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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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Saturday, 13 February 10
COAL INDIA 2010/11 COAL IMPORTS TO JUMP - EXEC
Coal imports by state-run Coal India Ltd are likely to soar to 6-10 million tonnes in fiscal 2010/11 from an expected 1.5-1.7 million tonnes in the ...
Saturday, 13 February 10
RULES MAY FREE $10B OF MINING PROJECTS IN INDONESIA
The government announced on Friday that it had issued two implementing regulations for the new Mining Law that will clear the way for the developmen ...
Saturday, 13 February 10
INDONESIA OFFERS TAX INCENTIVES FOR RENEWABLE ENERGY
Indonesia is offering tax incentives to develop renewable energy projects, including geothermal energy, to cut dependency on fossil fuels, a decree ...
Friday, 12 February 10
MECHEL EYES 2010 COAL OUTPUT AT 28-29 MLN T
Russian steel and coking coal producer Mechel expects coal output to reach 28-29 million tonnes this year, returning to pre-crisis levels thanks to ...
Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
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- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Posco Energy - South Korea
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
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