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Thursday, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
 This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Yesterday, the BDI edged up even higher at 4,209 (+ 22 points on a daily basis), with the Capesize market segment once again leading the pack, as all other ship types demonstrated deflationary trends. Still, after the impressive increase of Tuesday, yesterday proved a rather moderate session, with few fluctuations, in what could be a sign that charterers have tested their strength and aren’t willing to push the market any further. Thus, some market correction could be in store in the following days.
In yesterday’s weekly report, Fearnley’s said that capesize rates went through the roof. “Early this week, FFA values for June were USD 51,500 vs. mid last week USD 37,000, one of the main drivers for the physical market. The freight for Australia round voyage jumped from USD 12.1 last week to USD 14.2 mid this week, Tubarao Qingdao from USD 29.9 to 34.4! Although some talks about the market appearing more toppish now - nobody dares to say we are presently on the top. It is also interesting to note last year’s jump around this time, the 21st of May the index was USD 40,000 vs. USD 93,000 the 3rd of June”.
Commenting on a lackluster panamax segment, the shipbroker said that “as expected and despite the strong re bounce in the Cape segment, the Panamax market gradually lost some of its momentum over the last few days. In the Atlantic prompt Continent positions are still able to secure very healthy numbers in the mid/upper 40´s, whereas Charterers with June requirements may not be so tight on tonnage. Front haul typically in the mid/high 40´s range apart from spot trips via Aden as a Baltic-India buiz done at 60K. The Pacific market has consolidated around the low 30.000 level for NOPAC and ECSA rounds. The period market is still fairly active indicating the market may believe the downside is limited” said Fearnley’s.
In a market comment released this week, Jeffrey Landsberg of Commodore Research said that he remains cautious for what is in store for the future and there is valid concern that freight rates may come under great pressure in the second half of the year. “With that in mind, though, we continue to take things one step at a time, as there will continue to be opportunities to benefit from changes in short-term market dynamics, as we have seen in the dry bulk equity, FFA, and physical markets in the last few weeks”. According to Commodore’s analysis, approximately 100 capesize vessels were delivered in 2009, about 66% of what was expected to be delivered back in July 2008. “Capesize freight rates averaged approximately $43,000 in 2009. This year, approximately 45 Capes were delivered in the first quarter of this year with more delivered each week. On an annualized basis that's 180 Cape deliveries for 2010. At the time of writing, however, Capesize freight rates are averaging $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
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- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Australian Coal Association
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
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