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Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
 The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previous week, a pattern noted on Monday as well. The main reason for this was the significant decrease in iron ore fixtures. Yesterday, the BDI ended down by 48 points to 2628, while the capesize segment, which traditionally is serving the iron ore market, was down by 92 points to 3389. According to the latest weekly report by Commodore Research, 24 ore fixtures were reported last week, a decline from 33 ore fixtures of the previous week. “Only 12 of last week’s ore fixtures were for capesize vessels, a decline from 24 capesize vessels chartered to haul iron ore during the previous week. Demand for panamax vessels remained firm due to strong demand for coal from Asian importers, but panamax rates came under a large amount of pressure due to the sudden turn in sentiment (discussed in more detail below). Rates for supramax and handysize vessels were able to hold steady due to solid demand for grain and minor bulk cargo” said Commodore.
In terms of spot charter activity, a total of 120 trips were reported (8 less than the previous week), while an additional 17 period fixtures (14 less than the week before) also came to show how much smaller was cargo demand. According to the report, “last week’s sharp decline in period chartering activity is a clear indication of sentiment turning negative due to the Chinese government’s decision to restrict power allocation to steel mills. The 17 period fixtures were down sharply from the trailing four week average of 32 fixtures”. Commenting on the current state of the market, Commodore said the following: “total spot chartering activity remained firm last week despite a decrease in iron ore fixtures. Capesize freight rates are being affected by restrictions in China that have reduced electricity allocation to steel mills. Panamax rates have been partially affected by these restrictions as well, with negative sentiment caused by the restrictions being a factor behind their recent decline. A large amount of panamax vessels continue to be chartered to export coal to Asian buyers however. A higher than usual amount of panamaxes have also been chartered to haul iron ore.
Sentiment has turned negative. Last week’s 17 period fixtures were the lowest amount of weekly period fixtures reported since the week ending July 16. At that time, spot rates were near 2010 lows. Market players have been spooked by the recent decision by the Chinese government to reduce electricity allocation to Chinese steel mills. Their fears are certainly warranted. It remains to be seen how much and how long Chinese steel production will be affected by the electricity restrictions. The restrictions will continue to represent a significant threat to near-term dry bulk freight rates” concluded the report.
Meanwhile, in a separate report by Golden Destiny on the sale and purchase front, it was noted that newbuilding activity rose by 61.2% on a week-to-week basis. As a result of the BDI negative territory, just six dry bulk carriers reportedly changed hands, a weekly drop of 50%. In total the week ended with “15 vessels reported to have changed hands equalling a total amount of money invested around $181,250,000, two secondhand transactions reported on private terms. In the demolition market, 7 vessels have been headed to the scrap yards of total deadweight 236,806 tons, while in 2009 3 vessels reported for scrap indicating a positive yearly change of around 133%.The highest activity has been recorded once again in the newbuilding market with 50 vessels reported to have been ordered equalling a total deadweight around 1,868,755 tons, while at similar week of 2009 only 2 orders have been reported in the offshore sector. In terms of reported number of transactions, the bulk carrier sector domains in the newbulidng business holding around a 52% share of the market with kamsarmax being the most popular vessel type. The Greek presence has calmed down significantly this week in the secondhand market as only 1 transaction reported in the bulk carrier sector equalling a total amount invested around US$ 22,000,000 while the investments of Greeks in the newbuilding sector continue with a remarkable post panamax order in the container sector. In total, 7 units have been ordered by Greeks equalling a total invested capital around US$ 304,978,000, two new building transactions reported on private terms” the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
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- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Electricity Authority, New Zealand
- PTC India Limited - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
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