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Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
 The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax segments were higher week on week, with the first gaining 19.22% and the latter 2.77%. Thus, capesize owners had plenty to cheer for in the previous week, a development not quite expected with China effectively out of the market, due to holiday reasons. Still.
As the weekly report from Commodore Research & Consultancy said, “a larger than expected amount of iron ore fixtures came to the market last week which helped propel Cape rates. 31 ore fixtures were reported, only 4 less than the previous week. 24 of the fixtures were for capesize vessels, which was actually 4 more than the previous week. Expectations had been for a moderate decrease in overall ore fixtures due to China’s week-long National Day holiday, but Chinese iron ore fixtures remained relatively firm. A healthy amount of iron ore fixtures from buyers outside of China also helped Cape rates find support. 13 vessels were charted to export iron ore to buyers in countries other than China, 7 more than the trailing four week average. 18 vessels were chartered to export iron ore to buyers in China, 4 less the four week average” said the report.
Meanwhile, iron ore demand and related spot prices have been able to hold steady even as the Chinese government continues to partially restrict electricity allocation to steel mills. These restrictions have lessened recently, though, and going forward Chinese steel mills are expected to slowly increase steel production.
“Market sentiment has slowly improved, evident by last week’s increase in period deals. Market players had previously been spooked by the electricity restrictions in China but iron ore demand has managed to remain relatively firm. Two weeks ago, the 11 period fixtures concluded last week were the lowest amount of period fixtures reported in a single week since the week ending July 16. At that time, dry bulk spot rates were near 2010 lows. Last week marked the first time since early September, however, that week on week period chartering activity increased”. In total, Commodore reports 118 spot trip fixtures for the week (nine less on the week) and 17 period fixtures (six more than the previous week).
In another weekly report, N.Cotzias Shipping Group examined the potential overcapacity of dry bulk tonnage and how it will impact the freight markets. According to Cotzias, the expected ships until the end of 2010 are alarming, with 6 VLOC’s of 1.8 million tons, 61 Capes of 11 million tons, 21 Post Panamaxes of 2.1 million tons, 74 Panamaxes of 6 million tons, 153 Supramaxes of 9 million tons, 7 Handymaxes of 300,000 tons, 201 Handies of 6 million tons and 221 bullkers (between 10,000 and 20,000 dwt) of 2 million tons, not to mention an additional smaller dry bulk carriers (including MPP, General Cargo) of 400,000 tons. In total until the end of the year, the additional carrying capacity of the global dry bulk fleet, based on the expected deliveries should be 38.6 million tons, a figure difficult to be offset by the increased cargo demand. Of course, the economies of the developed world haven’t to contribute to global shipping trades, with China still ruling the fortunes of rates.
For the time being, “the effects in the freight markets of the Russian grain embargo, and the closure of 10 major ports following the Karnataka ban in India, are fairly visible and the added per ton mile, that has altered the typical trading routes seem to have added on the positive side, keeping the freight levels to acceptable, fairly good levels that are for the time being balancing the added influx of tonnage that has already become part of the world active fleet. We expect that this added dynamics of the market together with some much awaited improvement from the developed world, whose economies are not really feeding with steam the global shipping trades, would be the wishful expectations from either Q4 2010 or even better Q1 2011” said Cotzias.
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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- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
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