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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, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains sup ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
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- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
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