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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, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
ABC - CBN News reported that, State-run National Power Corp. (Napocor) said on Thursday it awarded 2 contracts for the supply of a total 122,000 ton ...
Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
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- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
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