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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 22 April 11
DRY BULK MARKET KEEPS FALLING, NOW AT TWO-MONTH LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer ...
Wednesday, 20 April 11
TNPL SECURED 160K MT OF COAL WITH CALORIFIC VALUE 6000 GAD AT US$ 93.44 PMT
COALspot.com - Delhi based Knowledge Infrastructure Systems Pvt. Ltd once again offered the lowest price of US$ 93.44 per metric ton for calorific v ...
Wednesday, 20 April 11
TSI LAUNCHES GEO-COAL UPGRADING TECHNOLOGY
Simple yet effective process boosts calorific value of low rank coal to provide lower cost energy across the world.
Press Release - Total Sinergy ...
Wednesday, 20 April 11
ADARO TO PAY OUT RP 970B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, the annual shareholders meeting of coal producer PT Adaro Energy on Wednesday agreed on the disbursement of Rp 970.7 ...
Wednesday, 20 April 11
INDIA IMPORTS MORE COAL FROM INDONESIA
COALspot.com - Indonesian coal exports jumped 23.31 percent during March 2011. The world’s largest coal exporter shipped 27, ...
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- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
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