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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, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- ASAPP Information Group - India
- The University of Queensland
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
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