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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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Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
Thursday, 19 August 10
INDONESIA EXPORTED 5.93 MLN TON OF COAL TO CHINA AND 3.52 MLN TONS TO INDIA IN JULY
COALspot.com: Indonesia shipped 3.52 million tones of thermal coal to India in July, fell 25.39 percent compared to June's exports of 4.71 million ...
Thursday, 19 August 10
WBPDCL INDIA LAUNCHES SPOT COAL TENDER
COALspot.com: The West Bengal Power Development Corporation Limited (WBPDCL ), A Govt. of West Bengal Enterprise, has launched spot contract tender ...
Thursday, 19 August 10
PANAMAX BACKED BY A STRONGER SHORT PERIOD MARKET AND SUPPORTED BY SOME FRESH REQUIREMENTS - FEARNBULK
Handy
The events of this week have confirmed our assessment of last week i.e. activity gradually picked up in the Atlantic with more enquiry seen ...
Thursday, 19 August 10
CSC TO SHIP COAL FOR NOROCHCHOLAI POWER PLANT
Daily Mirror reported that, coal for the Norochcholai Power Plant will be shipped to the country by the Ceylon Shipping Corporation (CSC) officials ...
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Showing 5656 to 5660 news of total 6871 |
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- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- The University of Queensland
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- PTC India Limited - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Australian Coal Association
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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