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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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Friday, 22 January 10
ENERGY ADVISORY COUNCIL MULLS - COAL EXPORT BAN
The National Energy Council, which advises the House of Representatives and the president on energy issues, has begun to debate a proposal to ban ex ...
Friday, 22 January 10
MERCATOR EYES MORE COAL MINES IN INDONESIA
India’s second-largest private shipping company Mercator Lines is looking at acquiring more coal mines in Indonesia as part of its strategy&nb ...
Friday, 22 January 10
BHAKTI ENERGI IN TALKS OVER COAL VENTURES IN KALIMANTAN
PT Bhakti Energi Persada, one of Indonesia’s biggest miners of brown coal, revealed on Thursday that it was in talks to form a joint venture w ...
Friday, 22 January 10
SHENHUA ENERGY 09 YIELDED 210MN TONS COMMODITY COAL
China Shenhua Energy Co., Ltd. yielded 210 million tons of commodity coal in 2009, hiking 13.2% year on year, the Chinese energy titan announced tod ...
Friday, 22 January 10
JSW ENERGY TO INVEST RS 4,500 CRORE IN COAL MINES ABROAD
The Sajjan Jindal-promoted JSW Energy is planning an investment of Rs 4,500 crore (US$ 978,260,869) to acquire coal mines abroad and another of Rs 1 ...
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- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- White Energy Company Limited
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
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