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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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Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
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- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
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