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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, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
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Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
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- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- PTC India Limited - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
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