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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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Tuesday, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...
Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...
Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...
Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...
Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
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- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- PTC India Limited - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
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