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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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Saturday, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
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- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- VISA Power Limited - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Parliament of New Zealand
- Planning Commission, India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
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