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Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
 The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, had a negative impact on chartering activity. As a result freight rates came under further pressure, with iron ore fixtures posting a continued decline and overall spot chartering activity also facing decreases.
According to the latest weekly report issued by Commodore Research, “iron ore fixtures remain relatively low due to the ongoing restrictions on electricity allocation to Chinese steel mills. Overall chartering activity also came under pressure last week due to holidays in Asia. 19 iron ore fixtures were reported last week, a decrease from 24 iron ore fixtures reported during the previous week. 15 of last week’s iron ore fixtures were for capesize vessels, an increase from 12 capesize vessels chartered to haul ore during the previous week. Global coal and grain demand have remained moderate but have not been robust enough to stem the fall in spot freight rates” the report said.
As a result of this negative trend, Capesize rates are currently averaging $29,002/day, a decrease of $4,810 (-14%) from a week ago. Panamax rates are now averaging $21,840/day, a decrease of $1,685 (-7%). Supramax rates are averaging $19,644/day, a decrease of $1,397 (-7%). Handysize rates are averaging $15,666/day, a decrease of $298 (-2%).
At the same time period chartering activity also remained subdued, with 92 spot trip fixtures (28 less than the previous week) and 16 period fixtures (1 less than the previous week) were reported last week. Commodore said that none of the period deals were for a year or more. “Sentiment remains somewhat negative due to the going electricity restrictions to steel mills in China. Last week marked the first time in eleven weeks that no period deals for a year or more were reported. At that time, sentiment was very negative due to spot freight rates approaching 2010 lows.
The report mentioned that “market players remain spooked by the recent decision by the Chinese government to reduce electricity allocation to Chinese steel mills - but so far Chinese steel production has reportedly only decreased by 2%. The electricity restrictions will continue to represent a significant threat to near-term dry bulk freight rates, however, and must continue to be monitored extremely closely. Several analysts have forecast that Chinese steel output will decline by as much as 10% due to the ongoing electricity restrictions.
Based on August’s 51.64 million tons of crude steel production, this would put post-restriction monthly output at approximately 46.5mt, an amount not seen since May 2009. We continue to anticipate that Chinese steel demand will exceed most expectations. Chinese stockpiles have remained steady in recent weeks and there is little reason to believe that immediate steel demand has significantly decreased. We expect Chinese steel production to range between 48 to 49mt of crude steel in September and October.
The Chinese government cannot afford to have steel prices surge due to an artificial restraint on supply. Inflation is already a growing concern in China. The National Development and Reform Commission has also criticized the electricity allocation restrictions” concluded Commodore.
In terms of the secondhand and demolition activity of the past week, shipbroker Golden Destiny said that in total there were 39 sales reported. The activity was high at both the S&P and the newbuilding market with 32 & 34 orders reported in total respectively. “The secondhand market has been marked with a 100% positive yearly change with 32 vessels reported to have changed hands this week equalling a total amount of money invested more than US$796,800,000, since in 9 transactions the price hasn’t been disclosed. In the demolition market, 7 vessels have been headed to the scrap yards of total deadweight 218,513 tons, while in 2009 14 vessels reported for scrap indicating a negative yearly change of 100%. In the newbuilding market, 34 vessels reported to have been ordered equalling a total deadweight around 1,683,000 tons. The dry sector has held the largest share of newbuilding contracts, equalling a total deadweight of 1,076,000 tons, with orders from kamsarmaxes, panamaxes & supramaxes being the most popular vessel types. The Greek presence has been noticed this week only in the secondhand market with 6 transactions, two in the in the post panamax bulkcarrier sector and four in the small panamax container sector. The cumulative amount invested by Greek investors in the secondhand market can be calculated only by the bulkcarrier acquisitions around $ 82,000,000, since the price of the Container enbloc transaction has not been disclosed” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 11 October 10
INDONESIAN POWER PLANTS AND OTHER INDUSTRIES TO BURN 78.97 MLN TONS OF COAL IN 2011
COALspot.com: The Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree 2360 K/30/MEM/ 2010 related to Domestic mark ...
Monday, 11 October 10
COAL IMPORTS TO START IN 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Viet Nam is now likely to import coal only from 2015, not 2013 as earlier forecast since many thermal power pl ...
Monday, 11 October 10
OCTOBER INDONESIAN COAL PRICE REFERENCE UP BY 2.92 PERCENT
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Saturday, 09 October 10
MPPGCL SEEKS TO BUY 0.40 MLN MT OF COAL FOR ITS THERMAL POWER STATIONS
COALspot.com: India's Madhya Pradesh Generating Company Limited (MPPGCL), Jabalpur, Madhya Pradesh invites bidders through tender 07-03/Import/Coal ...
Saturday, 09 October 10
FREIGHT MARKET IS EXPECTED TO FIRM UP NEXT WEEK CAPT REDDY
COALspot.com: Inspite of Chinese holidays the BDI was up by 10 pct and closed at 2,696 points. The cape index shot up to 20 pct and closed at 4,076 ...
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- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- The University of Queensland
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
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