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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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Sunday, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...
Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...
Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...
Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...
Thursday, 04 March 10
BANPU KEEPS JORONG OUTPUT AT 2M TONNES
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is maintaining an output target of 2 million tonnes this year from its Jorong mi ...
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- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- India Bulls Power Limited - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
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