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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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Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
Monday, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
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- Energy Link Ltd, New Zealand
- Planning Commission, India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
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