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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, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Australian Coal Association
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
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