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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, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
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- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Australian Coal Association
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