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Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
 The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ship owners could soon be coming to an end, according to market analysts. Yesterday, the BDI ended down by 40 points to 3,882, with the Capesize segment registering heavy losses, which brought the Baltic Capesize Index (BDI), once again almost on par with the smalle panamax market (4,513 points versus 4,504 points).
During the course of the previous week, Chinese ore and Asian coal demand remained particularly firm, thus pushing capesize rates up by 14% week-on-week. In the first two weeks of May, capesize rates rose by a rather impressive 29% or $11,320. Still, according to the latest weekly report by Commodore Research & Consultancy, "freight rates for all vessels may be poised to decrease moderately in the near-term, as dry bulk commodity prices have fallen across the board and Chinese stockpiles have increased.
Overall dry bulk cargo demand is still expected to remain robust during the summer, however, and the market will likely only experience a brief lull in spot chartering activity. 20 vessels were reportedly fixed to carry iron ore last week, 7 less than the previous week. After a brief lull in spot chartering activity, we expect cargo demand to rebound due to Northern Hemisphere peak summer coal demand and an increase in Chinese corn and soybean imports. We also expect Chinese steel production to remain firm throughout the summer" said the report.
It mentions that capesize rates may be poised to full further this week, as spot iron ore and Chinese steel prices begin to show weakness. "In addition, stockpiles of iron ore and thermal coal in China have begun to increase, which might put additional pressure on the entire dry bulk market in the near-term. Thermal coal demand in China and throughout much of Asia is expected to remain robust, however, as the Northern Hemisphere summer peak demand season results in greater electricity consumption. Asian and European steel production is also expected to maintain healthy levels, as the global economy continues to emerge from recession.
Only a brief lull in spot chartering activity is expected, and dry bulk commodity demand is expected to return to robust levels within a few weeks.
In the upcoming weeks, dry bulk freight rates will likely come under pressure due to the decline in dry bulk commodity prices coinciding with growing iron ore and thermal coal stockpiles.
After a temporary lull in spot chartering activity, dry bulk demand and freight rates will likely find renewed support due to various developments (including an expected surge in long-haul Chinese corn and soybean imports and steady Chinese coastal freight rates) which are discussed in the remainder of this report. Firm period chartering activity also suggests that the market expects dry bulk cargo demand to increase in a few weeks Dry bulk freight rates increased across the board last week - but spot chartering activity was relatively low and freight rates were moderately supported by robust levels of period chartering activity" Commodore said.
Chinese iron ore port stockpiles now total about 69.61 million tons, 1.26mt (2%) more than the previous week. Stockpiles have now increased for five consecutive weeks and are approaching this year's peak of 71.17mt, which was reached in early March.
At the same time, Indian iron ore fixtues decreased noticeably last week, continuing the trend of sporadic Indian ore fixture activity - resulting from the Indian government continuing to investigate and restrict illegal mining and railing of ore from Orissa.
The same amount of Brazilian and Australian iron ore fixtures were reported in market compared with the previous week. Going forward, Chinese iron ore demand might decline in the immediate shortterm due to rising ore stockpiles and declining steel prices.
After a possible brief pause in steady iron ore imports, Chinese demand is expected to return to firm levels. Indian ore fixtures will likely stay at low levels beginning in June when India's monsoon season begins. At that time, most of China's ore will come from Brazil and Australia, concluded the analysis.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
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- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Planning Commission, India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- PTC India Limited - India
- MS Steel International - UAE
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
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