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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, 14 January 10
INDIANS RESUME S. AFRICA COAL BUYING AGAINST INDEX - REUTERS
Indian trade buyers have resumed buying of South African prompt coal cargoes after a two-month hiatus but are opting for index-linked pricing, hopin ...
Wednesday, 13 January 10
STEAMING COAL SUPPLY SPOT CONTRACT FOR TAEAN POWER PLANT
COALspot.com (South Korea): Korea Western Power Co., Ltd is looking for total 1.12 million tons of Bituminous Coal for TAEAN Power Plant.
Accord ...
Wednesday, 13 January 10
INDONESIA ISSUES COAL, METAL DECREE
Indonesia has issued a ministerial decree which requires metal and coal miners to set aside a certain amount of their production for domestic needs, ...
Wednesday, 13 January 10
RESTING TIME FOR INDONESIAN COAL LOADING VESSELS
COALspot.com (Indonesia): 11 - 15 vessels are waiting in anchorages of Muara Berau and Tanjung Pemancingan to load total about 700,000 – ...
Wednesday, 13 January 10
SOUTH AFRICA STEAM COAL PRICE FALLS SHARPLY
Reuters reported that South African physical coal prices fell sharply on Tuesday with a March cargo trade at USD 87.5 a tonne FOB Richards Bay and d ...
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- Parliament of New Zealand
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
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