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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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Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
Friday, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
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- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Parliament of New Zealand
- Deloitte Consulting - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
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