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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, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Planning Commission, India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
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