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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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Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
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- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
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