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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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Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
Thursday, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain f ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
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- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Australian Coal Association
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
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