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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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Tuesday, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
Saturday, 14 August 10
INDONESIAN THERMAL COAL PRICES EXPECTED TO MOVE UP IN SEPTEMBER 2010 - CHAIRMAN ICMA
COALspot.com: Indonesian Coal Mining Association is expecting, the Indonesian and international coal prices will increase, and will be reached ...
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- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- PTC India Limited - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- The University of Queensland
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Planning Commission, India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
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