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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, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- White Energy Company Limited
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
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