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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, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
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- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
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