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Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
 The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing to increase even on Monday, traditionally a “slow” trading day for booking charters. The BDI rose at 3,707 points, up by 99 against Friday’s session, when it also has made good progress. The capesize market is currently booming, with the BCI (Baltic Capesize Index) shooting up by 203 points yesterday to 4,551, now clearly higher than the smaller panamax segment, which has proven stronger in recent weeks, outclassing its higher-profile counterpart.
According to the latest weekly report by Commodore Research & Consultancy, “Chinese iron ore demand remained particularly strong which led to a 13% week-on-week increase in Capesize rates. Chinese thermal coal demand has also remained robust due to the ongoing drought in southwest China continuing to restrict Chinese hydropower production”. Even more interesting is the report’s outlook on the short-term market prospects.
It points out that Chinese steel demand looks poised to remain firm in the next few months, with Chinese steel prices increasing slightly last week, coupled with a continued decline of domestic steel stockpiles. “Thermal coal demand, particularly in China, India, Japan, and South Korea, is also likely to remain firm in the upcoming months. Demand has begun to increase on the strength of Northern Hemisphere peak summer demand season.
Chinese thermal coal demand has also remained strong due to the ongoing drought in southwest China continuing to restrict hydropower production. Thermal coal exports from Indonesia are likely to be sporadic during the next few weeks as a longer than normal monsoon season continues to put pressure on coal mining and vessel loading. By the beginning of June, however, Indonesian thermal coal exports will likely reach consistently firm levels. Thermal coal exports from South Africa are expected to remain firm in the immediate short-term.
Richards Bay coal terminal has enough coal stockpiles on hand to ensure that coal exports are not restricted by the commencing workers strike which is expected to restrict rail services” said Commodore.
Adding to the positive prospects of the dry bulk market is the factor of a potential increase of Canadian iron ore exports, on the back of China’s WISCO decision to import more of Canada’s iron ore. This decision will begin its implementation within four to six weeks. According to the report, “these long-haul shipments, expected to be shipped on Capesize vessels and coming from east coast ports, will lend support to dry bulk freight rates (specifically Capesize freight rates) due to the long haul nature of seaborne trade between Canada and China. Still, Canadian ore producers still produce only a very small amount of high quality iron ore. High quality Australian, Brazilian, and Indian iron ore will very likely remain in great demand, and exports from these countries are not expected to decrease.
“Going forward, freight rates continue to have the potential to increase further, and dry bulk cargo demand is expected to remain firm. For the immediate future, however, the largest threat to a continued increase in dry bulk freight rates continues to be wavering port congestion and additional newbuilding deliveries continuing to join current vessel supply. Dramatic changes in port congestion are common from week to week and a decrease in congestion should not be ruled out in the near-term, even though demand and fixtures have remained firm.
A steady delivery of newbuildings, however, continues to come to the market and will continue to put pressure on dry bulk freight rates - but In the immediate short-term, it is still possible for dry bulk cargo demand growth to outpace vessel supply growth” concludes the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
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- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- New Zealand Coal & Carbon
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Planning Commission, India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
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