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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, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
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- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
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