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Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
 Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, the industry’s benchmark, the Baltic Dry Index (BDI) managed to post a healthy increase over the previous weeks. Still, Monday broke the 10-session straight increases, with the index falling by 19 points back at 2,976, with little activity in the market and small declines across most market segments. According to the latest weekly report from Commodore Research, dry bulk freight rates found continued support last week on the strength of robust spot chartering activity. Panamax rates found the most amount of support due to very firm thermal coal demand, with Chinese coal buyers chartering a large number of vessels. Chinese electricity output continues to struggle to satisfy demand, which has resulted in the government reducing power allocation to steel mills.
“Despite mills receiving less electricity, iron ore demand, particularly in China, remains robust. 33 ore fixtures were reported last week, an increase from 19 ore fixtures reported during the previous week. 24 of last week’s ore fixtures were for capesize vessels, an increase from 14 capesize ore fixtures reported during the previous week. Grain demand has also stayed firm which has contributed to panamax and supramax rates finding support.128 spot trip fixtures (53 more the previous week which had one less day of chartering activity) and 31 period fixtures (3 less than the previous week) were reported last week. Nine of the period deals were for a year or more” the report said.
It went on to state that Panamax vessels have been chartered en masse to export coal and grain, with a larger than usual amount of vessels chartered to haul cargo from the US Gulf. Rates for the smaller vessel classes have also found support on the strength of firm grain demand. Firm demand for minor bulk (including bauxite and alumina) has also given support to rates for smaller vessels. Chinese ore demand was extremely strong last week, even while reports have been surfacing that the Chinese government is beginning to reduce power allocation to steel mills (discussed in greater detail below and on page 3). Capesize rates were able to find continued support as a large number of Australian and Brazilian iron ore shipments were chartered in the market last week. It is worth pointing out, however, that a larger than usual amount of Indian iron ore fixtures were also reported as India’s monsoon season is coming to an end. Most of the Indian ore fixtures were for supramaxes” Commodore said.
But, the dry bulk market could be in for a surprise going forward chartering activity must remain at current levels for dry bulk rates to find greater support. According to Commodore, the Chinese government’s decision to reduce electricity allocation to steel mills, however, represents a great threat to near-term dry bulk rates – especially capesize rates. Chinese steel demand has remained firm recently, with crude steel output in August estimated at 51.64 million tons - a decline of just 100,000 tons from production in July. So far this year, monthly Chinese crude steel output has averaged 53.33mt, an increase of 6.09mt (13%) from 2009’s monthly average of 47.24mt. It remains to be seen just how much China’s steel production will be affected by the electricity allocation restrictions. With steel prices rising and Chinese steel stockpiles continuing to decline, China’s steel mills will be disinclined to lower production. Some reports suggest that a few steel mills are using diesel-powered generators to generate additional electricity for their blast furnaces. Other reports suggest that the government penalties on using too much electricity are not high enough to truly stop mills from using large amounts of electricity. We will continue to monitor this development closely, as there is certainly potential for a decline in steel output. Based on last week’s level of Chinese iron ore fixtures, however, Chinese steel and iron ore demand remain firm” Commodore’s report concludes.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 11 October 10
INDONESIAN POWER PLANTS AND OTHER INDUSTRIES TO BURN 78.97 MLN TONS OF COAL IN 2011
COALspot.com: The Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree 2360 K/30/MEM/ 2010 related to Domestic mark ...
Monday, 11 October 10
COAL IMPORTS TO START IN 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Viet Nam is now likely to import coal only from 2015, not 2013 as earlier forecast since many thermal power pl ...
Monday, 11 October 10
OCTOBER INDONESIAN COAL PRICE REFERENCE UP BY 2.92 PERCENT
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Saturday, 09 October 10
MPPGCL SEEKS TO BUY 0.40 MLN MT OF COAL FOR ITS THERMAL POWER STATIONS
COALspot.com: India's Madhya Pradesh Generating Company Limited (MPPGCL), Jabalpur, Madhya Pradesh invites bidders through tender 07-03/Import/Coal ...
Saturday, 09 October 10
FREIGHT MARKET IS EXPECTED TO FIRM UP NEXT WEEK CAPT REDDY
COALspot.com: Inspite of Chinese holidays the BDI was up by 10 pct and closed at 2,696 points. The cape index shot up to 20 pct and closed at 4,076 ...
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- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
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