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Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
 The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger capesize counterparts, while the even smaller supramax carriers have the ability to earn just as much as the capesizes. Analysts and brokers had warned about the volatility of the market, as a result of the ever so catalytical factor of the Chinese iron ore imports and their swings of mood. This factor has weighed in more than anything else in the market.
As a result, at the time being the Baltic Dry Index (BDI) keeps on retreating, with yesterday’s session marking yet another tumble, this time under the 3,000 point mark, to end the day at 2,982, down by 39.
According to the latest weekly analysis by Commodore Research, last week’s increase in spot chartering activity is an encouraging sign. Adding to optimism about the market’s prospects are the declining iron ore and coal port stockpile, as is the drop in Chinese steel stockpiles. “Dry bulk commodity prices (iron ore, steel, coal, grain) remain firm and Chinese industrial demand shows little sign of slowing.
In addition, global port congestion is still very high. Capesize freight rates will likely continue to come under pressure and maintain volatility as Chinese steel mills and iron ore miners negotiate iron ore pricing and China changes its short-term import patterns. The rest of the market will be affected and rates for all vessel classes will likely continue to move closer to balance. Overall spot chartering activity, however, is firm and will likely remain at moderate levels which should help dry bulk freight rates find support. Several developments (including a severe drought in southwest China restricting hydropower production and resulting in increase in thermal coal demand, long-haul Colombian thermal coal exports being shipped to India, and a significant rise in congestion at Australian ports, etc) will continue to affect the market” said Commodore.
For instance, port congestion at Australia’s Haypoint and Darlymple Bay coal terminals is now increased to approximately 102 vessels, 14 more than the previous week and almost double the amount of vessels anchored at the ports in early February.
“Approximately 221 vessels are now anchored at Australia’s ports, 21 more than a week ago and 11 more than last year’s record 210 vessels anchored at the ports at the end of December 2009. Rising congestion in Australia (and robust congestion worldwide) will continue to support freight rates, but the latest developments in Australia will also result in an estimated loss of 4 to 8 million tons of Australian coal exports. Coking coal will be most significantly affected, and buyers in Japan and South Korea might soon be forced to import long-haul coking coal from the United States and other longer-haul exporters” said the research.
Additional factors expected to support dry bulk freight rates in the near future include Colombian thermal coal exports to India and the possibility of Indian buyers signing long-term contracts. Also, the ongoing drought in southwestern China has the potential to result in a moderate increase in near-term Chinese thermal coal demand. A large portion of the region’s electricity is normally produced by hydropower generation.
In the upcoming weeks, more thermal coal will likely be railed to the region and additional thermal coal produced electricity will be transported through China’s power grids. It remains to be seen when iron ore fixtures will improve - but disruptions in China and Australia will likely lead to an increase in thermal coal demand and longer-haul shipments of both thermal and coking coal” concludes Commodore Research.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Friday, 26 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
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- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- The University of Queensland
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Economic Council, Georgia
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