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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, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- GMR Energy Limited - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Planning Commission, India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
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