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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, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
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- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Aditya Birla Group - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
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