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Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
 The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger capesize counterparts, while the even smaller supramax carriers have the ability to earn just as much as the capesizes. Analysts and brokers had warned about the volatility of the market, as a result of the ever so catalytical factor of the Chinese iron ore imports and their swings of mood. This factor has weighed in more than anything else in the market.
As a result, at the time being the Baltic Dry Index (BDI) keeps on retreating, with yesterday’s session marking yet another tumble, this time under the 3,000 point mark, to end the day at 2,982, down by 39.
According to the latest weekly analysis by Commodore Research, last week’s increase in spot chartering activity is an encouraging sign. Adding to optimism about the market’s prospects are the declining iron ore and coal port stockpile, as is the drop in Chinese steel stockpiles. “Dry bulk commodity prices (iron ore, steel, coal, grain) remain firm and Chinese industrial demand shows little sign of slowing.
In addition, global port congestion is still very high. Capesize freight rates will likely continue to come under pressure and maintain volatility as Chinese steel mills and iron ore miners negotiate iron ore pricing and China changes its short-term import patterns. The rest of the market will be affected and rates for all vessel classes will likely continue to move closer to balance. Overall spot chartering activity, however, is firm and will likely remain at moderate levels which should help dry bulk freight rates find support. Several developments (including a severe drought in southwest China restricting hydropower production and resulting in increase in thermal coal demand, long-haul Colombian thermal coal exports being shipped to India, and a significant rise in congestion at Australian ports, etc) will continue to affect the market” said Commodore.
For instance, port congestion at Australia’s Haypoint and Darlymple Bay coal terminals is now increased to approximately 102 vessels, 14 more than the previous week and almost double the amount of vessels anchored at the ports in early February.
“Approximately 221 vessels are now anchored at Australia’s ports, 21 more than a week ago and 11 more than last year’s record 210 vessels anchored at the ports at the end of December 2009. Rising congestion in Australia (and robust congestion worldwide) will continue to support freight rates, but the latest developments in Australia will also result in an estimated loss of 4 to 8 million tons of Australian coal exports. Coking coal will be most significantly affected, and buyers in Japan and South Korea might soon be forced to import long-haul coking coal from the United States and other longer-haul exporters” said the research.
Additional factors expected to support dry bulk freight rates in the near future include Colombian thermal coal exports to India and the possibility of Indian buyers signing long-term contracts. Also, the ongoing drought in southwestern China has the potential to result in a moderate increase in near-term Chinese thermal coal demand. A large portion of the region’s electricity is normally produced by hydropower generation.
In the upcoming weeks, more thermal coal will likely be railed to the region and additional thermal coal produced electricity will be transported through China’s power grids. It remains to be seen when iron ore fixtures will improve - but disruptions in China and Australia will likely lead to an increase in thermal coal demand and longer-haul shipments of both thermal and coking coal” concludes Commodore Research.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
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- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- PTC India Limited - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
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