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Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
 China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. Net coal imports to China, the world's biggest coal producer, could soar 70-100 percent to 170 million tonnes or more in 2010, boosting coal prices globally, if the country's power use boom continues, according to exporters and analysts including the International Energy Agency.
Much of the coal is being transported in smaller panamax vessels, which have a capacity of around 60 000 and 80 000 deadweight tonnes (dwt). This helped average daily earnings for panamaxes rise this week to over the $35 000 level -- their highest since November last year.
"One of the main freight drivers has been this growth in coal exports to China," Martin Sommerseth Jaer, lead shipping analyst with Arctic Securities, said.
Panamax earnings have averaged around $29 900 a day so far this year from $19 300 a day in 2009.
Drought in south western China has also pushed up demand for coal in recent weeks leading to record high congestion levels at ports in major exporter Australia, already struggling with logistical problems.
"(China's coal demand) has also helped contribute to congestion on the east coast of Australia thereby cutting fleet supply and boosting freight rates," Derek Langston, a director with SSY Consultancy and Research, said.
China's coal appetite is also set to help tonne mile demand -- a key indicator of ship demand -- which measures the volume of cargo transported multiplied by the distance of the voyage.
"It's very beneficial for tonne mile demand as you have the involvement of more long haul voyages to China such as Colombia and some South African coal," Langston said.
"The reduction in export availability of Chinese coal to buyers in Korea and Japan means there is another benefit ... as those buyers have to seek coal from further afield such as Indonesia and Australia."
Listed dry bulk shipping companies with panamaxes among their fleet such as Safe Bulkers, Golden Ocean group and Diana Shipping could also see gains.
"Dry bulk stocks with large panamax or supramax or handymax fleets are the most prone to benefit from this," Arctic Securities' Jaer said.
FLEET GROWTH
China's appetite for coal has also meant better sales for exporters from Colombia which is the longest route, which could also help benefit demand for coal capesizes, the largest class of dry bulk vessels with a capacity above 100 000 dwt.
But analysts say growing ship supply will put the brakes on rate gains.
"Over the next couple of years you need more coal trade to China and more coal imports to India to absorb the growing fleet," Jaer said.
"Even the most optimistic scenario on the demand side will likely not be able to bolster rates further as we believe the supply side is simply so overwhelming."
SSY estimated dry bulk net fleet growth rising to 63 million dwt this year from 38 million dwt in 2009.
"Robust Chinese thermal coal imports are expected to continue, even after the drought improves, but this incremental increase in dry bulk demand will not be enough to outpace the record level of new buildings continuing to be delivered," Jeffrey Landsberg, senior analyst with dry bulk consultants Commodore Research, said.
Panamax freight rates are currently around $27 per tonne on most major coal routes and could drop by up to $5 per tonne, but much will depend on how much ship tonnage gets absorbed, coal players said.
"It's very difficult to predict what will happen to freight rates," a major Indian importer said. "I'd like to think rates will come down later in the year but I can't be confident."
Consultants MSI estimated average panamax earnings could reach $24 000 a day by October.
Will Fray, shipping analyst with MSI, said coal imports could drop off once China's hydro power output returned to a proper operating capacity and local coal stocks, depleted by drought, were rebuilt.
"We expect earnings to be on average higher than 2009 for panamax and handymax. The order book still looms heavy, however, and we anticipate earnings to fall across all segments in 2011 even given a rise in Chinese coal imports," he said.
Source: Reuters / Hellenic Shipping
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Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
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- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- CNBM International Corporation - China
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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