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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, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
Monday, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
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- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
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