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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 $24 000 a day by October.
Will Fray, shipping analyst with MSI, said coal imports could drop off once China's hydro power output returned to a proper operating capacity and local coal stocks, depleted by drought, were rebuilt.
"We expect earnings to be on average higher than 2009 for panamax and handymax. The order book still looms heavy, however, and we anticipate earnings to fall across all segments in 2011 even given a rise in Chinese coal imports," he said.
Source: Reuters / Hellenic Shipping
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Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
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- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
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