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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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Thursday, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
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- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
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