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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, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
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- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- PTC India Limited - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
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