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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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Tuesday, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In ...
Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
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- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
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