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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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Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- White Energy Company Limited
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- The University of Queensland
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
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