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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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Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
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- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
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