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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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Wednesday, 17 February 10
JORONG COULD COST BANPU 5%
Banpu Plc, Asean's biggest coal miner, forecasts a 5% drop in revenue if its suspended coal mine in Indonesia is closed for one year, says presiden ...
Wednesday, 17 February 10
RUSSIA KRU JAN COAL EXPORTS DOWN 4 PCT
Kuzbassrazrezugol, Russia's second largest steam coal producer, exported 1.859 million tonnes of coal last month, down 80,000 tonnes or 4 percent f ...
Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedant ...
Tuesday, 16 February 10
TRENDS DRY BULK MARKET ... TRENDS - BRS
The start of the Chinese New Year had an immediate impact on rates and for once all the dry bulk segments lost similar ground.
The BDI fell 5%, a ...
Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
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- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- The University of Queensland
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Economic Council, Georgia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
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