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