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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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Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
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- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Videocon Industries ltd - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
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