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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, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
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- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- The University of Queensland
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Australian Coal Association
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
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