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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, 11 March 10
THE INDIAN MARKET WAS A BIT QUIET BUT STILL FIRM - FEARNLEYS AS
Handy - Atlantic activity has kept its firm tendency throughout the week for handies, with Atlantic RV´s fixed in the USD.16000 region. With s ...
Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are con ...
Wednesday, 10 March 10
PROTECTED FORESTS NOW UP FOR GRABS FOR MINING
The Jakarta Post reported that, the government has just issued two new regulations on forests, which could allow protected forests to be used for co ...
Tuesday, 09 March 10
REGULATION NO.23 OF 2010 CONCERNING IMPLEMENTATION OF NEW MINING LAW, PROVIDES MORE CLARITY ON OBTAINING A IUP
COALspot.com: Indonesian government has recently issued another regulation related to Law number 4 of 2009 concerning mineral and coal mining. Two r ...
Tuesday, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
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- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- White Energy Company Limited
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- MS Steel International - UAE
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
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