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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, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
Thursday, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
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- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- The University of Queensland
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
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