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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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Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
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- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Parliament of New Zealand
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Planning Commission, India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
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