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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
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
MEC infra to invest $1b in construction of 130-km transport link
A 130-kilometre railway that will ease the transport of raw materials and finish ...
Tuesday, 15 December 09
KOMIPO HAS ISSUED A NEW TENDER FOR 30000 MT OF 5200 NAR KCAL/KG COAL
COALspot.com (South Korea): South Korean state-owned utility Korea Midland Power (KOMIPO) has issued an new tender for prompt supply of 30000 M ...
Tuesday, 15 December 09
CHINA CUTS IMPORT DUTIES ON COAL, RAISES FOR OTHERS
China will lower import duties on more than 600 products next year, including coal, naphtha and phosphate ore, the Finance Ministry said on Tuesday. ...
Tuesday, 15 December 09
NTPC'S COAL WOES UNLIKELY TO END SOON
State-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal&nb ...
Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
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- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- White Energy Company Limited
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Australian Coal Association
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Planning Commission, India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
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