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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
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