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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, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
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- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Planning Commission, India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
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