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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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Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
Monday, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
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- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Minerals Council of Australia
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Vedanta Resources Plc - India
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