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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, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
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- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Planning Commission, India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Carbofer General Trading SA - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
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