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