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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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Monday, 13 September 10
FREIGHT MARKETS MAY BE A BIT SOFT THIS WEEK - VISTAAR SINGAPORE
COALspot.com: The freight market continued its upward trend with the BDI almost touching 3000 points. However the uncertainty seems to continue with ...
Friday, 10 September 10
INDONESIAN RAILWAY CONTRACT STILL UP FOR BIDDING - LOGISTICS WEEK
The tender process for a $2.2bn project to build a coal-transporting railway line in Central Kalimantan province, Indonesia, is still underway and n ...
Friday, 10 September 10
WCI INTO CHINA WITH IRON ORE ARE AIMING AROUND $ 20K - FEARNBULK
Handy
The rates are firm in every corner of the world. However it still looks Atlantic/Baltic/Black Sea offer better employment opportunities for ...
Thursday, 09 September 10
INDIANS BALCO TO BUY 50 K OF 3,000 TO 4,500 GAR CALORIFIC VALUE COAL
COALspot.com: Bharat Aluminium Company Limited (BALCO) is a subsidiary of Sterlite Industries (India) Limited and part of Vedanta Resources PLC, a L ...
Thursday, 09 September 10
INDONESIA SWAPS COAL FOR INFRASTRUCTURE - FT
As Asia’s major economies bound forward and their hunger for energy surges over the next decade, Indonesia is strategically positioned to take ...
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- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Central Electricity Authority - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- PTC India Limited - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
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