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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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- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
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