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