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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
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- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- The University of Queensland
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
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