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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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Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
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- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Australian Coal Association
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Deloitte Consulting - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
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