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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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Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
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- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- The University of Queensland
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
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