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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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Thursday, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
Thursday, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
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 ...
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- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
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