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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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Thursday, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
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