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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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Saturday, 30 January 10
THE ECI / CHINA (S7) ROUTE SOFTENED BY $ 5,736 AND CLOSED AT $ 27,360 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week probably in anticipation of Chinese New year holidays.
BDI INDEX
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Saturday, 30 January 10
INDONESIA TO CONSTRUCT 93 POWER PLANTS IN 2ND PROJECT
The government has announced its list of 93 power plants to be built under the second 10,000-megawatt (MW) power generation scheme.
"With th ...
Saturday, 30 January 10
COAL FIRMS TO KEEP NATION IN THE BLACK
Some Indonesian coal mining companies on Friday pledged to allocate a greater share of their production this year to meet domestic market obligation ...
Friday, 29 January 10
INDIA STEAM COAL IMPORTS TO DOUBLE, BOOST SOUTH AFRICA
* SAfrica seen shipping 75 pct of its coal to Asia in 2010
* Logistics woes hamper SAfrica exports, India imports
India's steam coal imports ar ...
Thursday, 28 January 10
THE IRON ORE EXPORTS FROM INDIA TO CHINA ARE DOWN AND THE RATES DROPPED
HANDY
The BSI has continued its downward trend confirming the softening of the Atlantic since the previous week and reflecting a correction of the ...
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- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Australian Coal Association
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Bhatia International Limited - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
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