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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, 09 October 10
9TH ASIA PACIFIC MINING CONFERENCE & EXHIBITION 13 14 OCTOBER 2010 AT SHANGRI-LA HOTEL, JAKARTA.
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
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- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Australian Coal Association
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Anglo American - United Kingdom
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