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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, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
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- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
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