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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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