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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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- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- PTC India Limited - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
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