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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, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...
Wednesday, 13 January 10
COAL MARKETS 2010 CONFERENCE - SINGAPORE, 28 - 29 JANUARY 2010
COALspot.com (Press Release): As an established annual event that has been running for more than 7 years now with extensive industry support from ke ...
Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify.
ANZ senior commodities analyst Mark Pervan has increased h ...
Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...
Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
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- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Australian Coal Association
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Planning Commission, India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
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