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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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Thursday, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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Showing 6006 to 6010 news of total 6871 |
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- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Planning Commission, India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
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