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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 road of recovery in terms of hiring rates. After the first glimmer of hope received Friday with the halt of the BDI’s 35 day slide, Monday’s session was again on the positive side. The BDI ended at 1732 points, up by 12, with gains noted both in the capesize and the panamax end of the market. Still, shipbrokers’ reports have warned that demand from China remains subdued, which means that no particular “rally” should be expected in the near term.
In its latest weekly report, Commodore Research & Analysis said that “recent spot chartering activity has decreased sharply from moderate levels seen at the start of the month. Two weeks ago, the steady increase in available vessel supply was largely responsible for the continued decline in freight rates. Last week’s decrease in freight rates, however, was largely due to the recent decline in spot cargo demand. A sharp week-on-week decrease in iron ore fixtures put additional pressure on capesize rates - but owners have reportedly begun to take their Capes out of the market in order to artificially reduce vessel supply, which would help capesize rates find support. This ploy might be working - capesize rates increased by 3.5% on Friday, after previously falling for 11 consecutive days and during much of June.
Panamax freight rates have also been finally able to find support. A moderate amount of South American grain fixtures and Indonesian and Australian coal fixtures continue
to come to the market, which have led to a moderate increase in panamax rates. Also encouraging is last week’s minuscule week-on-week decrease in Chinese steel prices.
Chinese steel prices need to reverse their decline before a sustained increase in freight rates is possible” said Commodore.
Port congestion still affect shipping rates, with approximately 155 vessels currently anchored outside major Australian ports, 10 more than a week ago. Approximately 40 vessels are anchored outside major Brazilian ports, 10 less than a week ago. Of the 195 vessels congested outside of the Australian and Brazilian ports, approximately 100 of them are Capesize vessels. In comparison, 110 Capesize vessels were anchored outside of Australian and Brazilian ports a week ago. Lower levels of global vessel congestion continue to put pressure on freight rates. Rates have come under additional pressure due to the recent decline in cargo demand.
According to Commodore, “although cargo demand has seen a noticeable week-on-week decline, owners are reportedly taking their vessels out of the market which might help rates find support”. Meanwhile, the report said that Chinese steel exports have possibly peaked. “China has exported 23.58 million tons of steel in the first six months of 2010, 14.25mt (153%) more than the 9.33mt exported during the same period in 2009. This increase in seaborne cargo has helped support rates for smaller dry bulk vessels. Chinese steel exports are about to come under pressure, however, even though global steel demand remains robust. Recently passed legislation which removes rebates for Chinese steel mills on various types of steel exports came into effect on July 15. Chinese steel exports totaled 5.62mt in June, the largest total since September 2008, but Chinese steel exports are now, on average, 10% more expensive than just 4 days ago. Chinese steel exports are now likely to begin coming under pressure” Commodore said.
As for coal trades, more thermal coal will likely be used by China, to fuel any increase in power generation, with the country’s hydropower output likely at or near its peak. As a result, Chinese thermal coal imports, which have been robust but on the decline since April, could find additional support. Commodore mentioned that in recent weeks, a moderate amount of Chinese thermal coal fixtures have been chartered in the dry bulk market and fixtures may increase in the upcoming weeks. It still remains to be seen if China will be able to generate enough electricity to satisfy growing demand.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
Monday, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
"THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow ...
Saturday, 31 July 10
TABONEO ANCHORAGE TO LOAD 1.5 MLN TON OR MORE COAL IN H1 AUGUST
COALspot.com: Eighty five ocean going vessels and barges have been nominated by coal buyers to their respective suppliers in Indonesia to load about ...
Saturday, 31 July 10
SEEMS THE FREIGHT MARKET WOULD BE FAIRLY STABLE FOR H2 2010 - VISTAAR
COALspot.com: The BDI continued moving up since 16th July and rise by 14 pct almost touching 2000 points.
The BDI was up by 7.72 pct last week wh ...
Friday, 30 July 10
DRY BULK MARKET BACK ON THE ROAD TO RECOVERY
Freight rates for dry bulk carriers have continued to edge higher this week, with the industry’s main benchmark, the Baltic Dry Index (BDI) ga ...
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- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
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