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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
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- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Planning Commission, India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
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