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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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Saturday, 14 August 10
INDONESIAN THERMAL COAL PRICES EXPECTED TO MOVE UP IN SEPTEMBER 2010 - CHAIRMAN ICMA
COALspot.com: Indonesian Coal Mining Association is expecting, the Indonesian and international coal prices will increase, and will be reached ...
Thursday, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
ETA Star India Projects Pvt, which is carrying out coal prospecting and surveying work in the Moatize coal region, in Tete province, will present it ...
Thursday, 12 August 10
SUPRAS WERE FIXED IN THE MID/HIGH TEENS FOR INDO-INDIA TRIPS - FEARNBULK
Handy
Activity is gradually picking up in the Atlantic with more enquiries seen for short period tonnage for the end of August. With the grain sea ...
Thursday, 12 August 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 94.86 FOR AUGUST 2010 SUPPLIES
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
BRAZILIAN mining giant Vale is not content with being the world's largest iron ore miner. The miner is banking on ambitious growth plans to see it ...
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- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Economic Council, Georgia
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- White Energy Company Limited
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
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