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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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Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
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- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- The University of Queensland
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Planning Commission, India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
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