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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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Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
Wednesday, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
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- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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