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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, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
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- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- The University of Queensland
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
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