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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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Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
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- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Planning Commission, India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
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