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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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Wednesday, 03 February 10
RECOVERY IN INDONESIAN MINING SECTOR EXPECTED TO BOOST SALES, UNITED TRACTORS SAYS
PT United Tractors, the country’s biggest supplier of heavy equipment, said on Tuesday that it expected sales to increase 15 percent this year ...
Tuesday, 02 February 10
THAI BANPU SAYS HIGHER COSTS TO HIT COAL PROFITS
Thailand's top coal miner, expects profits from its coal business in 2010 to be lower than last year due to higher costs, but its chief executive i ...
Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The bo ...
Sunday, 31 January 10
AUSTRALIA NEWCASTLE THERMAL COAL FALLS 0.7 PERCENT TO $ 98.53
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 0.7 percent, falling for the first time in four weeks. ...
Sunday, 31 January 10
NTPC TO IMPORT COAL
NTPC Ltd plans to import coal directly, starting next fiscal.
“We plan to import 15-16 million tonnes of coal directly from next year,&rdqu ...
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- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
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