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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, 20 January 10
NALCO SEEKS CONSULTANT FOR $4 BILLION INDONESIAN SMELTER, PLANT
National Aluminium Co., India’s second-biggest producer of the metal, called for bids for a consultant on its proposed aluminum smelter and co ...
Wednesday, 20 January 10
NTPC PLANS TO SET UP ARM FOR ACQUIRING COAL ASSETS ABROAD
NTPC, the world’s second-largest independent power producer (IPP), plans to set up a new entity for acquiring coal assets abroad to secure fue ...
Wednesday, 20 January 10
CEMENT FIRMS TO BUY POWER PLANT COAL ASH
CEBU, Philippines - Cement companies in Cebu are interested to buy the coal ash that will be produced from the coal-fired power plant in Toledo City ...
Tuesday, 19 January 10
CHINA TO INCREASE THERMAL COAL IMPORTS - WEN
China's Premier Wen Jiabao said on Tuesday that China will appropriately increase imports of thermal coal to ease the country's power shortages.
...
Tuesday, 19 January 10
CESC TO BUY 100,000 MT OF INDONESIAN SUB BITUMINOUS COAL
COALspot.com (India): CESC, India’s one of the largest and oldest private power producer is expected to issue a closed tender any time this we ...
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- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
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