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Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
 The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ship owners could soon be coming to an end, according to market analysts. Yesterday, the BDI ended down by 40 points to 3,882, with the Capesize segment registering heavy losses, which brought the Baltic Capesize Index (BDI), once again almost on par with the smalle panamax market (4,513 points versus 4,504 points).
During the course of the previous week, Chinese ore and Asian coal demand remained particularly firm, thus pushing capesize rates up by 14% week-on-week. In the first two weeks of May, capesize rates rose by a rather impressive 29% or $11,320. Still, according to the latest weekly report by Commodore Research & Consultancy, "freight rates for all vessels may be poised to decrease moderately in the near-term, as dry bulk commodity prices have fallen across the board and Chinese stockpiles have increased.
Overall dry bulk cargo demand is still expected to remain robust during the summer, however, and the market will likely only experience a brief lull in spot chartering activity. 20 vessels were reportedly fixed to carry iron ore last week, 7 less than the previous week. After a brief lull in spot chartering activity, we expect cargo demand to rebound due to Northern Hemisphere peak summer coal demand and an increase in Chinese corn and soybean imports. We also expect Chinese steel production to remain firm throughout the summer" said the report.
It mentions that capesize rates may be poised to full further this week, as spot iron ore and Chinese steel prices begin to show weakness. "In addition, stockpiles of iron ore and thermal coal in China have begun to increase, which might put additional pressure on the entire dry bulk market in the near-term. Thermal coal demand in China and throughout much of Asia is expected to remain robust, however, as the Northern Hemisphere summer peak demand season results in greater electricity consumption. Asian and European steel production is also expected to maintain healthy levels, as the global economy continues to emerge from recession.
Only a brief lull in spot chartering activity is expected, and dry bulk commodity demand is expected to return to robust levels within a few weeks.
In the upcoming weeks, dry bulk freight rates will likely come under pressure due to the decline in dry bulk commodity prices coinciding with growing iron ore and thermal coal stockpiles.
After a temporary lull in spot chartering activity, dry bulk demand and freight rates will likely find renewed support due to various developments (including an expected surge in long-haul Chinese corn and soybean imports and steady Chinese coastal freight rates) which are discussed in the remainder of this report. Firm period chartering activity also suggests that the market expects dry bulk cargo demand to increase in a few weeks Dry bulk freight rates increased across the board last week - but spot chartering activity was relatively low and freight rates were moderately supported by robust levels of period chartering activity" Commodore said.
Chinese iron ore port stockpiles now total about 69.61 million tons, 1.26mt (2%) more than the previous week. Stockpiles have now increased for five consecutive weeks and are approaching this year's peak of 71.17mt, which was reached in early March.
At the same time, Indian iron ore fixtues decreased noticeably last week, continuing the trend of sporadic Indian ore fixture activity - resulting from the Indian government continuing to investigate and restrict illegal mining and railing of ore from Orissa.
The same amount of Brazilian and Australian iron ore fixtures were reported in market compared with the previous week. Going forward, Chinese iron ore demand might decline in the immediate shortterm due to rising ore stockpiles and declining steel prices.
After a possible brief pause in steady iron ore imports, Chinese demand is expected to return to firm levels. Indian ore fixtures will likely stay at low levels beginning in June when India's monsoon season begins. At that time, most of China's ore will come from Brazil and Australia, concluded the analysis.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
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- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
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