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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, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
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- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
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