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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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Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
Monday, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
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- PTC India Limited - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- The University of Queensland
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
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