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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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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
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