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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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Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
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- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
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