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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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Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
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- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Parliament of New Zealand
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Planning Commission, India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
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