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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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Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
...
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 previou ...
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- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Australian Coal Association
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- The University of Queensland
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
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