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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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Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
Tuesday, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
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- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- White Energy Company Limited
- PTC India Limited - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
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