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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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Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
Monday, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
"THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow ...
Saturday, 31 July 10
TABONEO ANCHORAGE TO LOAD 1.5 MLN TON OR MORE COAL IN H1 AUGUST
COALspot.com: Eighty five ocean going vessels and barges have been nominated by coal buyers to their respective suppliers in Indonesia to load about ...
Saturday, 31 July 10
SEEMS THE FREIGHT MARKET WOULD BE FAIRLY STABLE FOR H2 2010 - VISTAAR
COALspot.com: The BDI continued moving up since 16th July and rise by 14 pct almost touching 2000 points.
The BDI was up by 7.72 pct last week wh ...
Friday, 30 July 10
DRY BULK MARKET BACK ON THE ROAD TO RECOVERY
Freight rates for dry bulk carriers have continued to edge higher this week, with the industry’s main benchmark, the Baltic Dry Index (BDI) ga ...
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- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
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