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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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Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
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- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- The University of Queensland
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
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