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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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Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
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- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
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- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
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- Sakthi Sugars Limited - India
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- The State Trading Corporation of India Ltd
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- Medco Energi Mining Internasional
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- Meenaskhi Energy Private Limited - India
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- Commonwealth Bank - Australia
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- Power Finance Corporation Ltd., India
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- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
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- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Minerals Council of Australia
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- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
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- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
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- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
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- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
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- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
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