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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, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
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