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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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Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
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- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
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