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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, 04 March 10
THE INDIAN MARKET WAS STILL STRONG - FEARNRESEARCH
HANDY
Activity has gradually improved in the Atlantic throughout the week. All areas&n ...
Thursday, 04 March 10
GLOBAL COAL PRICES GETS SUPPORT FROM EM DEMAND
Commodity Online reported that, AP12 coal prices look well supported in 2010 thanks to positive outlook for Chinese coal demand whereas coal demand ...
Thursday, 04 March 10
THREE NEW GLOBAL PRICES INDEXES FOR COKING COAL
Commodity Online reported that, On February 26, Energy Publishing Co. broke new ground in the coal-marketing industry when it began publishing three ...
Tuesday, 02 March 10
INDIA WAS AGAIN THE WINNER IN THE EAST, WITH SUPRAMAXES FIXING CLOSE TO US$40,000/DAY FROM THE WEST COAST
There was little movement in the BDI this week but behind the scenes, the Supramax and Handy size segments posted significant gains, correcting the ...
Tuesday, 02 March 10
INDONESIA'S PROTECTED FORESTS NOW OPEN TO DEVELOPMENT
The Jakarta Globe reported that, President Susilo Bambang Yudhoyono has signed a decree to allow mining, power plants and other projects deemed stra ...
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- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
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