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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, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
Thursday, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
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- Latin American Coal - Colombia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
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