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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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Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
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- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Australian Coal Association
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
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