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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, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
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- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Planning Commission, India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
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