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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, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
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