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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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Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
Thursday, 05 November 09
MERCATOR LINES AIMS TO BECOME A $5 BILLION COMPANY
Mercator Lines, India’s second largest private sector shipping line, plans to invest and expand, riding India’s next wave of growth, the ...
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- ASAPP Information Group - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
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