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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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Thursday, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
Thursday, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Saturday, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
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- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
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