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