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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, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
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- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Australian Coal Association
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
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