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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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Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
Friday, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
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- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
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