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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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- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
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