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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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Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
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