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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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Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
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- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
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