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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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Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
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- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Australian Coal Association
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
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