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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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Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Planning Commission, India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Minerals Council of Australia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
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