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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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Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
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- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Australian Coal Association
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
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