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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, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
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- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- The University of Queensland
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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