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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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- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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