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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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- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
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