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Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
 The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger capesize counterparts, while the even smaller supramax carriers have the ability to earn just as much as the capesizes. Analysts and brokers had warned about the volatility of the market, as a result of the ever so catalytical factor of the Chinese iron ore imports and their swings of mood. This factor has weighed in more than anything else in the market.
As a result, at the time being the Baltic Dry Index (BDI) keeps on retreating, with yesterday’s session marking yet another tumble, this time under the 3,000 point mark, to end the day at 2,982, down by 39.
According to the latest weekly analysis by Commodore Research, last week’s increase in spot chartering activity is an encouraging sign. Adding to optimism about the market’s prospects are the declining iron ore and coal port stockpile, as is the drop in Chinese steel stockpiles. “Dry bulk commodity prices (iron ore, steel, coal, grain) remain firm and Chinese industrial demand shows little sign of slowing.
In addition, global port congestion is still very high. Capesize freight rates will likely continue to come under pressure and maintain volatility as Chinese steel mills and iron ore miners negotiate iron ore pricing and China changes its short-term import patterns. The rest of the market will be affected and rates for all vessel classes will likely continue to move closer to balance. Overall spot chartering activity, however, is firm and will likely remain at moderate levels which should help dry bulk freight rates find support. Several developments (including a severe drought in southwest China restricting hydropower production and resulting in increase in thermal coal demand, long-haul Colombian thermal coal exports being shipped to India, and a significant rise in congestion at Australian ports, etc) will continue to affect the market” said Commodore.
For instance, port congestion at Australia’s Haypoint and Darlymple Bay coal terminals is now increased to approximately 102 vessels, 14 more than the previous week and almost double the amount of vessels anchored at the ports in early February.
“Approximately 221 vessels are now anchored at Australia’s ports, 21 more than a week ago and 11 more than last year’s record 210 vessels anchored at the ports at the end of December 2009. Rising congestion in Australia (and robust congestion worldwide) will continue to support freight rates, but the latest developments in Australia will also result in an estimated loss of 4 to 8 million tons of Australian coal exports. Coking coal will be most significantly affected, and buyers in Japan and South Korea might soon be forced to import long-haul coking coal from the United States and other longer-haul exporters” said the research.
Additional factors expected to support dry bulk freight rates in the near future include Colombian thermal coal exports to India and the possibility of Indian buyers signing long-term contracts. Also, the ongoing drought in southwestern China has the potential to result in a moderate increase in near-term Chinese thermal coal demand. A large portion of the region’s electricity is normally produced by hydropower generation.
In the upcoming weeks, more thermal coal will likely be railed to the region and additional thermal coal produced electricity will be transported through China’s power grids. It remains to be seen when iron ore fixtures will improve - but disruptions in China and Australia will likely lead to an increase in thermal coal demand and longer-haul shipments of both thermal and coking coal” concludes Commodore Research.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
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- ICICI Bank Limited - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Planning Commission, India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
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