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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 $24 000 a day by October.
Will Fray, shipping analyst with MSI, said coal imports could drop off once China's hydro power output returned to a proper operating capacity and local coal stocks, depleted by drought, were rebuilt.
"We expect earnings to be on average higher than 2009 for panamax and handymax. The order book still looms heavy, however, and we anticipate earnings to fall across all segments in 2011 even given a rise in Chinese coal imports," he said.
Source: Reuters / Hellenic Shipping
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Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
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- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
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