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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
Saturday, 26 March 11
ADARO AIMS TO DOUBLE COAL PRODUCTION -THE JAKARTA POST
The Jakarta Post reported that, coal producer PT Adaro Indonesia is planning to soon boost its production capacity to 80 million tons annually, almo ...
Friday, 25 March 11
KNOWLEDGE INFRASTRUCTURE TO BAG 160,000 MT COAL SUPPLY ORDER FROM TNPL
COALspot.com - Delhi based Knowledge infrastructure Systems Pvt. Ltd offered lowest price of US$ 97.10 per metric ton for calorific value of 6000 GA ...
Friday, 25 March 11
THE CAPESIZE MARKET CONTINUED TO FALL - FEARNBULK
Handy
The Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras.
The USG remain ...
Friday, 25 March 11
BORNEO ENERGI FY10 NET INCOME SOARS - INSIDER STORIES
Coking coal producer PT Borneo Lumbung Energi Tbk (BORN) booked a skyrocket net income by 499.72% from net loss position in 2009, as quoted by Insid ...
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- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Aditya Birla Group - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
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