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Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
 Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus that the falling pattern set since late May, might be coming to a halt. Yesterday, the Baltic Dry Index (BDI) was down by 19 points to 2,482, but the industry’s benchmark, the capesize segment of the market retreated by just one point, virtually unchanged .
The BCI (Baltic Capesize Index) is again trading at 2716 points, way lower than the Panamax index, which stands at 2977. As brokers have pointed out in the past, every time this pattern appears, the market looks set for a rebound.
According to the latest weekly report by Commodore Research & Analysis, dry bulk rates appear to be finally finding support.
“Capesize rates fell 18% week-on-week but reversed their fall by the end of the week due to moderate iron ore demand from China. 20 vessels were reportedly fixed to export iron ore, 3 less than the previous week. 13 of the ore fixtures were for Capesize vessels; a large amount of Capes also continue to be fixed to ship coal to buyers in Asia and Europe. Panamax freight rates have been able to find the most support due to firm European coal demand, robust Asian thermal coal demand, and moderate global grain demand.
Freight rates for the two smallest vessels continued to come under moderate pressure. With iron ore and coal demand still firm, and Supramax and Panamax rates basically on par with Capesize rates, Capesize rates could soon find more support Capesize rates are currently averaging $24,283/day, a decrease of $5,215 (-18%) from the previous week. Panamax rates are averaging $24,472/day, an increase of $530 (2%). Supramax rates are now averaging $22,192/day, a decrease of $1,151 (-5%). Handysize rates are averaging $17,228/day, a decrease of $944 (-5%)” said the report.
It went on to say that as a whole, dry bulk freight rates have fallen for twenty consecutive index days but appear to be finally finding support. Capesize rates managed to reverse their epic fall and increased slightly on Friday, with rates ending the week averaging $24,283/day. It is remarkable the difference a few weeks can make, as Capesize rates were averaging $55,010/day just three weeks ago. Since that time, Chinese steel prices have decreased moderately - but spot iron ore prices have been actually increasing and iron ore fixtures have remained firm. Period activity has decreased significantly, however, with only 52 period deals reported in the first four weeks of this month, 70 fewer deals than the 122 period deals fixed in the first four weeks of May.
The market has been influenced by negative sentiment brought on by fears of a slowdown in Chinese real estate construction. Steel production in China will likely decline moderately this month as steel mills respond to a steady decrease in steel prices - but a large decrease in production is not expected. Thermal coal demand in China and throughout Asia remains firm and will likely stay robust” concluded Commodore.
Meanwhile, in a separate report, shipbroker BRS (Barry Rogliano Salles) mentioned that the decline in dry bulk rates slowed this week and there was talk of the market bottoming out. “Explaining some of the recent softness, China confirmed a 19% fall in coal imports for May due mainly to high product and freight prices. Overall the BDI lost 7% week-on-week. Regardless, China’s National Energy Agency (NEA) predicted the country could overtake the US as the world’s largest energy consumer this year. According to the country’s National Bureau of Statistics, China consumed 3.02bn tons of coal, 380m tons of crude oil, 88bn cbm of natural gas and 3.7trn kWh of electricity in 2009. If its consumption growth rate remains stable at around 8.9% (the average growth rate between 2000-2009), the country could consume 8bn tons of coal by 2020, said the NEA. China has been the second largest global energy consumer since 2002” said BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
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- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Planning Commission, India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
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