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