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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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Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
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- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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