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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, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
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- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
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