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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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Tuesday, 19 April 11
LONDON COMMODITY BROKERS OPENS JOHANNESBURG OFFICE
COALspot.com - London Commodity Brokers (LCB), a broking house specialising in bulk physical and Over-The-Counter commodities and options (coal ...
Tuesday, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
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- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Australian Coal Association
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
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