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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, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
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- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
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