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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, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
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- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
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