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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index ( ...
Tuesday, 26 April 11
NTPC CALLS TENDER FOR 4 MLN TON OF NON-COKING COAL
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, is the largest thermal power gener ...
Monday, 25 April 11
THE FUTURES FOR THREE YEARS WAS AT AROUND PANAMAX/US$ 14,000 PER DAY & SUPRAMAX/US$ 14,000 PER DAY - VISTAAR
COALspot.com - The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 points. ...
Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT
COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with c ...
Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES
Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons ...
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- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
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