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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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Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
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- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Australian Coal Association
- White Energy Company Limited
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
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