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