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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, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaiku ...
Tuesday, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
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- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
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