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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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Friday, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
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- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- CNBM International Corporation - China
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
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