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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, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- PTC India Limited - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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