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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, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
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- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
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