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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, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
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