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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 $24 000 a day by October.
Will Fray, shipping analyst with MSI, said coal imports could drop off once China's hydro power output returned to a proper operating capacity and local coal stocks, depleted by drought, were rebuilt.
"We expect earnings to be on average higher than 2009 for panamax and handymax. The order book still looms heavy, however, and we anticipate earnings to fall across all segments in 2011 even given a rise in Chinese coal imports," he said.
Source: Reuters / Hellenic Shipping
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Thursday, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain f ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
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- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- White Energy Company Limited
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
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