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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, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
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- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- The University of Queensland
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
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