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Friday, 29 October 10
CHINA'S COAL DEMAND DRIVES DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market is posting marginal, yet steady growth this week, with the Baltic Dry Index rising yesterday to 2784 points, up by 0.2%. Both the capesize and the panamax markets were higher, on signs of growing coal demand from China, a trend which boosted the panamax market in particular. At the same time a healthy iron ore demand again from Chinese steelmakers has helped the capesize segment retain its recent gains. According to the latest weekly report from shipbroker Fearnley’s “the Panamax market took a turn this week with rates increasing in both hemispheres. The FFA market helped the period market with rising values on Monday and flattened a bit on Tuesday. It is especially the shortage in prompt positions that push the rates upwards and in the Pacific several owners ballast into the USG helping the Pacific market further. The Pacific round voyages are now done in the region of low/mid 20´s while the Tarv´s are being fixed in the region of high teens. Fronthauls fetching high 20´s and for the short periods owners are very bullish asking ard mid 20´s. We expect the market to continue its strengthening as the Cape rates continue to increase and we see more split cargoes being quoted” said the broker.
Meanwhile, Petter Rishovd, head of commodities with Pareto Securities was quoted by Reuters as saying that “over the last few weeks we’ve seen very strong capesize fixtures. People are talking about a cold winter in China and we see more coal going to China on panamaxes and that will definitely help that market. It does not seem like the spot market will collapse," Rishovd said.
Commenting on the capesize market, Fearnley’s said that after a continued stable and firm Cape market, it started to break though the upwards resistance level of USD 40k daily for spot cargos in the Pacific. “The BCI has risen from 4363 to 4461, an average T/C improvement of USD 667/day. This surprisingly as Vale concluded the business they were planning for November by Tuesday last week, and have since been absent from the market. The Atlantic market has continued to pay a premium over the Pacific, but volumes have been low with good balance between tonnage and demand. What has driven the fronthaul T/C market has been the N.Atlantic ore market with several Narvik and St. Lawrence cargos being fixed at rates close to USD 70k, a level Brazil has not been able to compete with. In the Pacific, the Miners have continued to be active and although the Atlantic is now showing signs of softening, this market is still moving upwards, and rates in the upper USD 12´s are being paid for W.Australia cargos - this equates to USD 41k/day” concluded the shipbroker’s report.
So far so good then for the market, but one can’t help but notice that ship demolition activity has dropped dramatically as shipping rates rebounded to profitable levels. According to a Morningstar report, “through the first nine months of 2010, owners have scrapped approximately 4.2 million deadweight tons of capacity, or about 470,000 tons per month. This figure compares to nearly 820,000 tons scrapped monthly in 2009, on average, and 433,000 tons per month in 2008. Although nearly 15% of the world's fleet is older than 25 years (a typical life of a vessel), we continue to believe that scrapping will play the part of a buffer against prolonged hampered rates rather than a catalyst toward astronomical rate hikes.
When we combine all of these figures, we think that even if the dry-bulk shipping industry sees increased vessel demolition combined with cancellations and slippage that reach 50% of the scheduled deliveries, the fleet is slated to climb more than 10% in 2011. More worrisome, the expected drop-off in supply growth beginning in 2012 and beyond could face pressure if owners continue to order in abundance” said the analysis.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
Wednesday, 27 October 10
TNPL TO AWARD 240,000 MT COAL SUPPLY CONTRACT TO COAL & OIL
COALspot.com: Tamil Nadu Newsprint Papers Limited, Tamil Nadu state owned Newsprint and Printing & Writing Paper producer has opened a coal purc ...
Wednesday, 27 October 10
CHINA AIDS RUSSIA IN DEVELOPING COAL RESOURCES - PEOPLE'S DAILY
People's Daily reported that, Russia will use 6 billion U.S. dollars in loans provided by China to develop coal resources in Sakhalin Island, Elege ...
Wednesday, 27 October 10
MAIDEN COAL SHIPMENTS TO NOBLE RESOURCES - PAN ASIA AUSTRALIA
Press Release :
First Coal Shipments made from Nadvara Coal Project, East Kalimantan
51,616 tonnes delivered from October production &ndas ...
Tuesday, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
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- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Australian Coal Association
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Economic Council, Georgia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
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