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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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Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
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- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Australian Coal Association
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
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