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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, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...
Tuesday, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
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- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Planning Commission, India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
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