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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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Saturday, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
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- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Planning Commission, India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
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