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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Sojitz Corporation - Japan
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
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