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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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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Economic Council, Georgia
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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