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Wednesday, 20 October 10
CAPESIZES FINDING SUPPORT IN IRON ORE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk ship owners, especially those who have invested in the capesize market, as rates improved together with an increase of iron ore fixtures. As a result, Capesize rates are currently averaging $45,279/day, an increase of $4,481 (11%) from a week ago. Meanwhile, yesterday (Monday) the industry’s main benchmark, the Baltic Dry Index (BDI) was on the negative side, albeit just slightly, retreating by 0.22% to 2,756 points, virtually unchanged from the previous Friday.
According to Commodore Research’s latest weekly report there were 33 iron ore fixtures reported during the past week, two more on a weekly basis and up moderately from an average of 28 iron ore fixtures reported during the previous four weeks. Commodore said that “24 of last week’s ore fixtures were for capesize vessels, a historically very large amount and the same amount as during the previous week. Chinese iron ore demand has remained robust - but Chinese steel stockpiles have continued to increase sharply and need to be monitored closely. Demand for coal and grain has remained strong, but panamax vessels have come under pressure partially due to a decrease in congestion at various coal ports. Rates for smaller vessels have continued to remain relatively steady”.
In total, 117 spot trip fixtures (1 less than the previous week) and 15 period fixtures (2 less than the previous week) were reported last week. 6 of the period deals were for one year or more. “Period chartering activity remains at a low level not seen since the middle of July when spot rates were near 2010-lows. Sentiment had been improving recently due to a loosening in Chinese government restrictions on electricity allocation to steel mills – but sentiment for the medium-term remains low due to concerns over the orderbook” said the report. In fact, orderbook concerns continue to weigh very heavily on the collective mind of the market however. In the first two weeks of October, an average of 16 period deals have been reported each week. This is down sharply from an average of 22 weekly period fixtures in September and 33 weekly period fixtures in August. Despite capesize spot rates rising significantly from a few months ago, period activity remains subdued and negative sentiment lingers.
According to Commodore, the recent increase in iron ore fixtures has come primarily as a result of robust demand in China. Chinese steel mills continue to receive greater allocations of electricity and production is slowly increasing. The recent growth in Chinese steel stockpiles must be monitored however. If this steel is not consumed, ore fixtures will likely soon come under pressure (it is possible that the last two weeks of holidays in China have delayed steel shipments to end-users). Going forward, we will publish an update on stockpiles if they change dramatically mid-week.
Meanwhile, another unpredictable development is expected to affect the market, as heavy rain in much of Australia is expected to impact coal supply from Queensland, located to the northeast of the country. Queensland exports a large amount of both thermal and coking coal primarily to buyers in China, South Korea, Japan, and India - but there is a good chance that there will be sporadic delays in coal exports in the upcoming months.
This would result in an increase in port congestion and force buyers to import more coal from less proximate exporters including South Africa, Colombia, and the United States.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
Monday, 11 October 10
INDONESIAN POWER PLANTS AND OTHER INDUSTRIES TO BURN 78.97 MLN TONS OF COAL IN 2011
COALspot.com: The Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree 2360 K/30/MEM/ 2010 related to Domestic mark ...
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- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Planning Commission, India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- The University of Queensland
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
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