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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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Friday, 19 March 10
COAL INDIA TO HIT CAPITAL MARKETS IN JULY
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July, company chairman Partha S. Bhattacharyya said ...
Thursday, 18 March 10
COAL IMPORTS SOAR IN NANTONG PORT OF JIANGSU PROVINCE CHINA
BloombergUTV reported that, Coal imports at Nantong Port, located in coastal China's Jiangsu Province, soared 13 times to 581,000 tonnes in the fir ...
Thursday, 18 March 10
INNER MONGOLIA TO CAP COAL OUTPUT AT 700 MLN TONS IN 2010
Alibaba / China Knowledge reported that, Inner Mongolia, China's northern border autonomous region, plans to control coal output at 700 million ton ...
Thursday, 18 March 10
THE INDIAN MARKET WAS QUIET, BUT BECAUSE OF THE TIGHT TONNAGE SITUATION STILL FIRM - FEARNLEYS AS
Handy
Activity continues to be solid in the Atlantic.
Supramax physical market is strong which pushed the BSI to a 17 month high at ...
Thursday, 18 March 10
INDONESIAN COAL PRODUCTION EXPECTED TO BEAT EARLIER FORECAST
The Jakarta Globe reported that, the government expects coal output this year to exceed its initial projection of 250 million metric tons as the dri ...
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- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
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