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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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Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
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- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
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