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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, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
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- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Planning Commission, India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- PTC India Limited - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Indian Oil Corporation Limited
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