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Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session, retreating Monday by 2.81 percent, down to 2,216 points. The Baltic's capesize index (BCI) lost 1.87 percent, with average earnings falling to $23,012. The Panamax index (BPI) was down by an additional 3.96 percent, its lowest since the previous October, with panamaxes now earning $18,941.
During the previous week, a total of 27 ore fixtures were reported, an increase from 20 ore fixtures reported during the previous week. 20 of last week’s 27 iron ore fixtures were for Capesize vessels. “Resilient Chinese iron ore demand and continued robust Asian thermal coal demand allowed Capesize rates to basically hold steady. Panamax rates decreased significantly, however, partially due to the imbalance in the Capesize/Panamax ratio. One week ago Panamax rates were slightly higher than Capesize rates. This imbalance has begun to correct itself” said Commodore Research in its latest weekly report.
Commenting on the current state of the market, the report stated that spot chartering activity has increased moderately from a week ago. Asian thermal coal demand remains robust and a surge in Indian and Chinese thermal coal fixtures was evident in the market last week. Spot iron ore demand also remains firm, despite a lingering fear that Chinese real estate construction is about to significantly decrease. Grain fixtures remain relatively firm as well, with a large amount of spot grain fixtures continuing to be chartered to load in South America.
“What cannot be ignored, however, is that Chinese steel production is slowing down (so far we believe the slowdown is only temporary). Recent estimates suggest that
daily Chinese steel production has been ranging somewhere between the 1.75 to 1.80 million ton level (daily Chinese steel production averaged approximately 1.81mt in May).
Despite the small decline in steel production, a moderate amount of iron ore fixtures continue to be fixed in the market and Chinese iron ore and steel stockpiles have remained relatively steady. Going forward, the strength of the dry bulk market will continue to be influenced by Chinese steel production” Commodore said.
Another factor which could add more pressure to the market, is a decline in port congestion. Approximately 155 vessels are currently anchored outside Australian ports, 5 less than a week ago. Approximately 45 vessels are anchored outside Brazilian ports, 15 less than a week ago. Of the 200 vessels congested outside of Australian and Brazilian ports, about 115 of them are Capesize vessels. In comparison, 125 Capesize vessels were anchored outside of Australian and Brazilian ports a week ago. The decline in Capesize congestion at Australian and Brazilian ports has contributed to Capesize rates coming under pressure while Capesize chartering activity has remained firm.
Simultaneously, a warmer than usual weather in northeastern China has contributed to China’s robust demand for thermal coal. According to Commodore “temperatures in Jilin and Liaoning provinces have been above 30 degrees celsius (86 degrees fahrenheit) for much of the last four weeks, with temperatures reaching 33 degrees celsius (91 degrees fahrenheit) on June 8, about three weeks earlier than expected. As a result of the warmer weather in the northeast and overall strong coal demand throughout China, the Ministry of Railways has begun to prioritize thermal coal railingIn the upcoming months, Chinese thermal coal demand is expected to remain strong and power shortages are expected to occur throughout China. A need to divert power to Shanghai to ensure that the Shanghai Expo continues to operate smoothly is also putting pressure on domestic and imported supplies of thermal coal.
Zhejiang, Anhui, and Jiangsu provinces, which share the eastern power grid with Shanghai, will likely experience sporadic power shortages. Power shortages are also expected in Hebei province. An increase in Chinese hydropower production, however, continues to put pressure on Chinese thermal coal demand as the drought in the southwest (which had resulted in a significant decline in hydropower production) continues to improve. The increase in hydropower production, though, has been partially offset by the warmer than usual weather in northeastern China” the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
Tuesday, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
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Showing 5716 to 5720 news of total 6871 |
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- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
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