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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, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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Showing 6026 to 6030 news of total 6871 |
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- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- VISA Power Limited - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- White Energy Company Limited
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