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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, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Interocean Group of Companies - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- CNBM International Corporation - China
- The University of Queensland
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
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