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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, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
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- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- The University of Queensland
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
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