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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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Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
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- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
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