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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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Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
Tuesday, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
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- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Australian Coal Association
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
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