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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
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...
Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones. Coal production in 2008 reached 231,18 mi ...
Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...
Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...
Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct
* Sees opportunities for overseas acquisitions
Indonesian state-owned coal miner Bukit Asam saw 2009 ...
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- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
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