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Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
 The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previous week, a pattern noted on Monday as well. The main reason for this was the significant decrease in iron ore fixtures. Yesterday, the BDI ended down by 48 points to 2628, while the capesize segment, which traditionally is serving the iron ore market, was down by 92 points to 3389. According to the latest weekly report by Commodore Research, 24 ore fixtures were reported last week, a decline from 33 ore fixtures of the previous week. “Only 12 of last week’s ore fixtures were for capesize vessels, a decline from 24 capesize vessels chartered to haul iron ore during the previous week. Demand for panamax vessels remained firm due to strong demand for coal from Asian importers, but panamax rates came under a large amount of pressure due to the sudden turn in sentiment (discussed in more detail below). Rates for supramax and handysize vessels were able to hold steady due to solid demand for grain and minor bulk cargo” said Commodore.
In terms of spot charter activity, a total of 120 trips were reported (8 less than the previous week), while an additional 17 period fixtures (14 less than the week before) also came to show how much smaller was cargo demand. According to the report, “last week’s sharp decline in period chartering activity is a clear indication of sentiment turning negative due to the Chinese government’s decision to restrict power allocation to steel mills. The 17 period fixtures were down sharply from the trailing four week average of 32 fixtures”. Commenting on the current state of the market, Commodore said the following: “total spot chartering activity remained firm last week despite a decrease in iron ore fixtures. Capesize freight rates are being affected by restrictions in China that have reduced electricity allocation to steel mills. Panamax rates have been partially affected by these restrictions as well, with negative sentiment caused by the restrictions being a factor behind their recent decline. A large amount of panamax vessels continue to be chartered to export coal to Asian buyers however. A higher than usual amount of panamaxes have also been chartered to haul iron ore.
Sentiment has turned negative. Last week’s 17 period fixtures were the lowest amount of weekly period fixtures reported since the week ending July 16. At that time, spot rates were near 2010 lows. Market players have been spooked by the recent decision by the Chinese government to reduce electricity allocation to Chinese steel mills. Their fears are certainly warranted. It remains to be seen how much and how long Chinese steel production will be affected by the electricity restrictions. The restrictions will continue to represent a significant threat to near-term dry bulk freight rates” concluded the report.
Meanwhile, in a separate report by Golden Destiny on the sale and purchase front, it was noted that newbuilding activity rose by 61.2% on a week-to-week basis. As a result of the BDI negative territory, just six dry bulk carriers reportedly changed hands, a weekly drop of 50%. In total the week ended with “15 vessels reported to have changed hands equalling a total amount of money invested around $181,250,000, two secondhand transactions reported on private terms. In the demolition market, 7 vessels have been headed to the scrap yards of total deadweight 236,806 tons, while in 2009 3 vessels reported for scrap indicating a positive yearly change of around 133%.The highest activity has been recorded once again in the newbuilding market with 50 vessels reported to have been ordered equalling a total deadweight around 1,868,755 tons, while at similar week of 2009 only 2 orders have been reported in the offshore sector. In terms of reported number of transactions, the bulk carrier sector domains in the newbulidng business holding around a 52% share of the market with kamsarmax being the most popular vessel type. The Greek presence has calmed down significantly this week in the secondhand market as only 1 transaction reported in the bulk carrier sector equalling a total amount invested around US$ 22,000,000 while the investments of Greeks in the newbuilding sector continue with a remarkable post panamax order in the container sector. In total, 7 units have been ordered by Greeks equalling a total invested capital around US$ 304,978,000, two new building transactions reported on private terms” the report concluded.
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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- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- The University of Queensland
- Planning Commission, India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
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