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