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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, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
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- The University of Queensland
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- White Energy Company Limited
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
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