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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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Saturday, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
Thursday, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
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- ASAPP Information Group - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- PTC India Limited - India
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