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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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- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
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- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
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- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- PTC India Limited - India
- Economic Council, Georgia
- SMC Global Power, Philippines
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