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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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Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
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- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
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