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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 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
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- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Coal and Oil Company - UAE
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