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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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Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
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- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- PTC India Limited - India
- The University of Queensland
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
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