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