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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, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
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- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Planning Commission, India
- Bhatia International Limited - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
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