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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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Sunday, 17 January 10
THE FUTURES FOR THREE YEARS (2010 - 2012) FIRMED UP - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market was a bit mixed with BDI up by about 159 points and closed at 3,299 points.
BDI
The cape index cont ...
Sunday, 17 January 10
NTPC TO DOUBLE CAPACITY BY 2017
NTPC, which will launch its follow-on public offer on February 3, plans to more than double its generating capacity to over 70,000 mega watts by 201 ...
Saturday, 16 January 10
HANDY CONTINUED FIRM CONDITIONS FOR MARKET IN THE ATLANTIC
HANDY
Continued firm conditions for the Handymax / Smax market in the Atlantic with the BSI having a continued upwards momentum. US$ 45,000 ac ...
Friday, 15 January 10
INDONESIA COAL - HEAVY RAINS HAVE LITTLE IMPACT ON COAL OUTPUT
Coal shipments from Indonesia's main coal-producing area are unlikely to be hit by heavy rains during January-February as many miners are prepared ...
Friday, 15 January 10
GOVT BRINGS IN DOMESTIC COAL MARKET OBLIGATION
The Energy and Mineral Resources Ministry has issued a ministerial decree requiring producers of coal and other minerals to allocate a proportion ...
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- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- VISA Power Limited - India
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- SMC Global Power, Philippines
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