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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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Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Planning Commission, India
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