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