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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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Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
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- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Parliament of New Zealand
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
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