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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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Tuesday, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
Monday, 04 October 10
2 BLN TONS OF COAL RESERVES DISCOVERED IN SOUTHERN PAKISTAN - XINHUA / HELLENIC SHIPPING
Xinhua and Hellenic Shipping reporte dhtat, the discovery of at least two billion tons of usable coal reserves has been confirmed in one of the ...
Sunday, 03 October 10
THE BDI WAS JUST INCREASED BY 8 POINTS AND CLOSED AT 2452 POINTS LAST FRIDAY - VISTAAR
COALspot.com: The BDI was almost at same levels and just increased by 8 points and closed at 2452 points , however the cape index was up by al ...
Sunday, 03 October 10
NALCO TO FINALIZE INDONESIA COAL DEAL BY JANUARY - HINDUSTAN TIMES
HindustanTimes reported that, state-owned National Aluminium Company (NALCO) will finalise a deal with a coal source in Indonesia for its $4 billion ...
Sunday, 03 October 10
INDONESIA WILL BECOME A NET IMPORTER OF ENERGY IN 2030 - BPPT
Jakarta Updates reported that,Indonesian Agency for the Assessment and Application of Technology (BPPT) predicted that the energy situation in Indon ...
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- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- VISA Power Limited - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
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