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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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Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
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- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
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