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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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Tuesday, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
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- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- London Commodity Brokers - England
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
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