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Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
 The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing to increase even on Monday, traditionally a “slow” trading day for booking charters. The BDI rose at 3,707 points, up by 99 against Friday’s session, when it also has made good progress. The capesize market is currently booming, with the BCI (Baltic Capesize Index) shooting up by 203 points yesterday to 4,551, now clearly higher than the smaller panamax segment, which has proven stronger in recent weeks, outclassing its higher-profile counterpart.
According to the latest weekly report by Commodore Research & Consultancy, “Chinese iron ore demand remained particularly strong which led to a 13% week-on-week increase in Capesize rates. Chinese thermal coal demand has also remained robust due to the ongoing drought in southwest China continuing to restrict Chinese hydropower production”. Even more interesting is the report’s outlook on the short-term market prospects.
It points out that Chinese steel demand looks poised to remain firm in the next few months, with Chinese steel prices increasing slightly last week, coupled with a continued decline of domestic steel stockpiles. “Thermal coal demand, particularly in China, India, Japan, and South Korea, is also likely to remain firm in the upcoming months. Demand has begun to increase on the strength of Northern Hemisphere peak summer demand season.
Chinese thermal coal demand has also remained strong due to the ongoing drought in southwest China continuing to restrict hydropower production. Thermal coal exports from Indonesia are likely to be sporadic during the next few weeks as a longer than normal monsoon season continues to put pressure on coal mining and vessel loading. By the beginning of June, however, Indonesian thermal coal exports will likely reach consistently firm levels. Thermal coal exports from South Africa are expected to remain firm in the immediate short-term.
Richards Bay coal terminal has enough coal stockpiles on hand to ensure that coal exports are not restricted by the commencing workers strike which is expected to restrict rail services” said Commodore.
Adding to the positive prospects of the dry bulk market is the factor of a potential increase of Canadian iron ore exports, on the back of China’s WISCO decision to import more of Canada’s iron ore. This decision will begin its implementation within four to six weeks. According to the report, “these long-haul shipments, expected to be shipped on Capesize vessels and coming from east coast ports, will lend support to dry bulk freight rates (specifically Capesize freight rates) due to the long haul nature of seaborne trade between Canada and China. Still, Canadian ore producers still produce only a very small amount of high quality iron ore. High quality Australian, Brazilian, and Indian iron ore will very likely remain in great demand, and exports from these countries are not expected to decrease.
“Going forward, freight rates continue to have the potential to increase further, and dry bulk cargo demand is expected to remain firm. For the immediate future, however, the largest threat to a continued increase in dry bulk freight rates continues to be wavering port congestion and additional newbuilding deliveries continuing to join current vessel supply. Dramatic changes in port congestion are common from week to week and a decrease in congestion should not be ruled out in the near-term, even though demand and fixtures have remained firm.
A steady delivery of newbuildings, however, continues to come to the market and will continue to put pressure on dry bulk freight rates - but In the immediate short-term, it is still possible for dry bulk cargo demand growth to outpace vessel supply growth” concludes the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
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- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Planning Commission, India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Wilmar Investment Holdings
- The University of Queensland
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Central Electricity Authority - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
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