We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
Wednesday, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
|
|
|
Showing 5681 to 5685 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
|
| |
| |
|
