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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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Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
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- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
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