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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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Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
Wednesday, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
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- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Economic Council, Georgia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
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