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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, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
Thursday, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
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- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Planning Commission, India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
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