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