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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, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Australian Coal Association
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
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