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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, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
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