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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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- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Planning Commission, India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
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