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