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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, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaiku ...
Tuesday, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
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- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
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