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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, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
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