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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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Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
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- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
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