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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, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...
Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...
Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...
Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...
Thursday, 19 November 09
THE GOVERNMENT TO GUARANTEE COAL SUPPLIES FOR POWER PLANTS
The government guarantees coal supplies for power plants under a 10,000 MW-capacity power plant construction acceleration program.
Minister of En ...
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- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- White Energy Company Limited
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
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