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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, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
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- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- PTC India Limited - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
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