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Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
 Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (BDI) gaining further ground to reach 1,841 points. Among the main gainers was the panamax sector, with the respective index rising by 41 points to 2,403, while the capesize market remained subdued, losing another 10 points to just 1,693. Should this trend persist, many owners are likely to consider laying off some of their vessels, at least for a while.
According to the latest weekly report by Commodore Research dry bulk cargo demand has increased dramatically from a week ago. Panamax rates have found continued support on the strength of robust Asian thermal coal demand and strong global grain demand. “Strong global grain demand has also continued to support supramax rates, with last week’s sudden increase in iron ore fixtures chartered to load at Indian iron ore ports giving supramax rates additional support. Last week’s overall increase in iron ore fixtures has allowed capesize rates to finally find support - although the capesize market remains under great pressure due to a large supply of available capesize vessels. Last week’s increase in Chinese steel prices is encouraging, and not entirely surprising, as prices remained flat during the previous week after seven consecutive weeks of decline.
The increase in Chinese steel prices coincides with Chinese steel stockpiles remaining steady - but iron ore port stockpiles continue to rise. It is still too soon to anticipate a sustained rebound in steel prices, however, but if prices do continue to increase, capesize rates should finally be able to rise to their rightful place atop the vessel classes as capesize iron ore fixtures will likely continue to increase” Commodore said.
A total of of 27 ore fixtures were reported last week, 11 more than the previous week. A large proportion of last week’s iron ore fixtures were for panamax and supramax vessels, however, which is partially responsible for panamax and supramax rates fairing better than capesize rates last week. Capesize rates also remain under significant pressure due to a large supply of available capesize vessels. In total, Commodore reports 124 spot trip fixtures (30 more than the previous week) and 21 period fixtures (9 more than the previous week). As a result, it’s safe to say that market sentiment has slowly started to improve but it is too early to expect a sustained rebound in freight rates.
One of the main reasons of the latest rebound of the dry bulk market is the robust demand for coal from China. Fluctuations in Chinese thermal coal imports have significantly impacted freight rates, with rates finding great support during parts of the second and fourth quarters of 2009. During these periods, a very large amount of Chinese thermal coal fixtures were completed to deliver coal for the summer and winter demand seasons.
Commodore mentions that “the sharp increase in Chinese thermal coal imports has also been responsible for dry bulk freight rates finding extended support while the market has become flooded with newbuilding deliveries (by early 2009, the market had expected freight rates to come under significant pressure due to deliveries, but a sharp, sudden, and sustained increase in Chinese coal imports occurred which allowed rates for capesize and panamax vessels to remain resilient until very recently)” the report said.
It went to state that Chinese coal imports (the vast majority of which are thermal coal rather than coking coal) averaged 3.39mt per month in 2008, 10.55mt in 2009, and 13.51mt so far in 2010. The pace of growth has now drastically decreased, however, and is one of the main reasons why capesize and panamax rates have finally come under great pressure.
Although the sudden increase in Chinese coal imports has subsided, Chinese thermal coal demand still remains robust and imports will likely increase in July and possibly August. Chinese coal imports decreased in April and May largely as a result of the drought in southwest China significantly improving, and Chinese hydropower output increasing dramatically as a result. Chinese hydropower production has now returned to normal levels - but with Chinese electricity demand continuing to surge due to the continued growth in the economy and warmer than usual summer temperatures - Chinese thermal coal demand remains robust and an increase in Chinese thermal coal fixtures will likely come to the market in the upcoming weeks” Commodore concludes.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
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- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- The University of Queensland
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Australian Coal Association
- Central Java Power - Indonesia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
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