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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, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
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- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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