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