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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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Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
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- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Planning Commission, India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- White Energy Company Limited
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
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