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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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Friday, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- The University of Queensland
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
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