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