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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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Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
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- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
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