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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, 12 December 09
INDONESIA'S COAL RUSH - SOOTY SUCCESS
Rising demand from China and India is stoking Indonesia’s exports of coal
FOR power stations on the coast of China, it is often cheaper to ...
Thursday, 10 December 09
ENVIROCOAL REGISTERED IN 33 COUNTRIES
PT Adaro concerned to register the brand overseas
PT Adaro Energy Tbk has registered the Envirocoal trademark for its coal products in 33 countri ...
Thursday, 10 December 09
INDIA TO IMPORT 28 MILLION TONNE OF STEAM COAL
Faced with short supply of coal from domestic sources, the Indian power ministry has revised upwards its coal import target for the current fiscal t ...
Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking ...
Wednesday, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
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- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- The University of Queensland
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
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