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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, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
* Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
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- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Minerals Council of Australia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
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