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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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Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Australian Coal Association
- MS Steel International - UAE
- Deloitte Consulting - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
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