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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, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
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- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
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