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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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Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
Sunday, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
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- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
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