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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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Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
Tuesday, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
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- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
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