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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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Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
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- Australian Coal Association
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
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