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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, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
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- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
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