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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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Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
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- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Australian Coal Association
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
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