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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, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
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- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Posco Energy - South Korea
- The University of Queensland
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
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