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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, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
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- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
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