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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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Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
Monday, 13 September 10
FREIGHT MARKETS MAY BE A BIT SOFT THIS WEEK - VISTAAR SINGAPORE
COALspot.com: The freight market continued its upward trend with the BDI almost touching 3000 points. However the uncertainty seems to continue with ...
Friday, 10 September 10
INDONESIAN RAILWAY CONTRACT STILL UP FOR BIDDING - LOGISTICS WEEK
The tender process for a $2.2bn project to build a coal-transporting railway line in Central Kalimantan province, Indonesia, is still underway and n ...
Friday, 10 September 10
WCI INTO CHINA WITH IRON ORE ARE AIMING AROUND $ 20K - FEARNBULK
Handy
The rates are firm in every corner of the world. However it still looks Atlantic/Baltic/Black Sea offer better employment opportunities for ...
Thursday, 09 September 10
INDIANS BALCO TO BUY 50 K OF 3,000 TO 4,500 GAR CALORIFIC VALUE COAL
COALspot.com: Bharat Aluminium Company Limited (BALCO) is a subsidiary of Sterlite Industries (India) Limited and part of Vedanta Resources PLC, a L ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- MS Steel International - UAE
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
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