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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, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
Thursday, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
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- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
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