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Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
 The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, had a negative impact on chartering activity. As a result freight rates came under further pressure, with iron ore fixtures posting a continued decline and overall spot chartering activity also facing decreases.
According to the latest weekly report issued by Commodore Research, “iron ore fixtures remain relatively low due to the ongoing restrictions on electricity allocation to Chinese steel mills. Overall chartering activity also came under pressure last week due to holidays in Asia. 19 iron ore fixtures were reported last week, a decrease from 24 iron ore fixtures reported during the previous week. 15 of last week’s iron ore fixtures were for capesize vessels, an increase from 12 capesize vessels chartered to haul ore during the previous week. Global coal and grain demand have remained moderate but have not been robust enough to stem the fall in spot freight rates” the report said.
As a result of this negative trend, Capesize rates are currently averaging $29,002/day, a decrease of $4,810 (-14%) from a week ago. Panamax rates are now averaging $21,840/day, a decrease of $1,685 (-7%). Supramax rates are averaging $19,644/day, a decrease of $1,397 (-7%). Handysize rates are averaging $15,666/day, a decrease of $298 (-2%).
At the same time period chartering activity also remained subdued, with 92 spot trip fixtures (28 less than the previous week) and 16 period fixtures (1 less than the previous week) were reported last week. Commodore said that none of the period deals were for a year or more. “Sentiment remains somewhat negative due to the going electricity restrictions to steel mills in China. Last week marked the first time in eleven weeks that no period deals for a year or more were reported. At that time, sentiment was very negative due to spot freight rates approaching 2010 lows.
The report mentioned that “market players remain spooked by the recent decision by the Chinese government to reduce electricity allocation to Chinese steel mills - but so far Chinese steel production has reportedly only decreased by 2%. The electricity restrictions will continue to represent a significant threat to near-term dry bulk freight rates, however, and must continue to be monitored extremely closely. Several analysts have forecast that Chinese steel output will decline by as much as 10% due to the ongoing electricity restrictions.
Based on August’s 51.64 million tons of crude steel production, this would put post-restriction monthly output at approximately 46.5mt, an amount not seen since May 2009. We continue to anticipate that Chinese steel demand will exceed most expectations. Chinese stockpiles have remained steady in recent weeks and there is little reason to believe that immediate steel demand has significantly decreased. We expect Chinese steel production to range between 48 to 49mt of crude steel in September and October.
The Chinese government cannot afford to have steel prices surge due to an artificial restraint on supply. Inflation is already a growing concern in China. The National Development and Reform Commission has also criticized the electricity allocation restrictions” concluded Commodore.
In terms of the secondhand and demolition activity of the past week, shipbroker Golden Destiny said that in total there were 39 sales reported. The activity was high at both the S&P and the newbuilding market with 32 & 34 orders reported in total respectively. “The secondhand market has been marked with a 100% positive yearly change with 32 vessels reported to have changed hands this week equalling a total amount of money invested more than US$796,800,000, since in 9 transactions the price hasn’t been disclosed. In the demolition market, 7 vessels have been headed to the scrap yards of total deadweight 218,513 tons, while in 2009 14 vessels reported for scrap indicating a negative yearly change of 100%. In the newbuilding market, 34 vessels reported to have been ordered equalling a total deadweight around 1,683,000 tons. The dry sector has held the largest share of newbuilding contracts, equalling a total deadweight of 1,076,000 tons, with orders from kamsarmaxes, panamaxes & supramaxes being the most popular vessel types. The Greek presence has been noticed this week only in the secondhand market with 6 transactions, two in the in the post panamax bulkcarrier sector and four in the small panamax container sector. The cumulative amount invested by Greek investors in the secondhand market can be calculated only by the bulkcarrier acquisitions around $ 82,000,000, since the price of the Container enbloc transaction has not been disclosed” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
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- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- White Energy Company Limited
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
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