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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, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Economic Council, Georgia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
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