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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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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Australian Coal Association
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
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