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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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Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- PTC India Limited - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
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