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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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Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Australian Coal Association
- Renaissance Capital - South Africa
- Planning Commission, India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
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