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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, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
Saturday, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
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- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- The University of Queensland
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
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