We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
|
|
|
Showing 5611 to 5615 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
|
| |
| |
|
