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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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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- The University of Queensland
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
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