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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, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
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- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
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