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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, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
Monday, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
"THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow ...
Saturday, 31 July 10
TABONEO ANCHORAGE TO LOAD 1.5 MLN TON OR MORE COAL IN H1 AUGUST
COALspot.com: Eighty five ocean going vessels and barges have been nominated by coal buyers to their respective suppliers in Indonesia to load about ...
Saturday, 31 July 10
SEEMS THE FREIGHT MARKET WOULD BE FAIRLY STABLE FOR H2 2010 - VISTAAR
COALspot.com: The BDI continued moving up since 16th July and rise by 14 pct almost touching 2000 points.
The BDI was up by 7.72 pct last week wh ...
Friday, 30 July 10
DRY BULK MARKET BACK ON THE ROAD TO RECOVERY
Freight rates for dry bulk carriers have continued to edge higher this week, with the industry’s main benchmark, the Baltic Dry Index (BDI) ga ...
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- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- The University of Queensland
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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