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