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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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Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
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- The University of Queensland
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- ASAPP Information Group - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
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