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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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Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
Friday, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
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- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
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