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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, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
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- Economic Council, Georgia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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