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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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Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
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- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Planning Commission, India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
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