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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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Wednesday, 16 December 09
COAL MARKETS 2010 CONFERENCE - PRESS RELEASE
COALspot.com (Singapore) Press Release – Back for the 8th year, Coal Markets 2010 will be taking place in Singapore on 28 – 29 Jan ...
Wednesday, 16 December 09
CHINA 2010 COAL TERM PRICES SEEN RISING 8% ON YEAR
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring ba ...
Wednesday, 16 December 09
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL INTERESTS
Emerging coal producer Kangaroo Resources has significantly enhanced its production pipeline in Indonesia after reaching agreement to acquire a coki ...
Wednesday, 16 December 09
UAE'S RAS AL KHAIMAH TO INVEST $5.2B IN EAST KALIMANTAN PROJECT
Shrugging off neighbor Dubai’s debt problems, the smaller United Arab Emirate of Ras Al Khaimah announced on Tuesday that it would increase it ...
Wednesday, 16 December 09
COECLERICI EYES SECOND RUSSIA COAL MINE
* CEO says "seriously considering" mid-small size purchase
* Will use mine to increase exports to Asia
* Says delays at ports will not c ...
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- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- PTC India Limited - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Aditya Birla Group - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- The University of Queensland
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
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