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