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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, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
Sunday, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
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- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Australian Coal Association
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
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