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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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Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
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- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- White Energy Company Limited
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Mintek Dendrill Indonesia
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