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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, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- White Energy Company Limited
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
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