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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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Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
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