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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, 08 February 11
PUSTAKA JAYA PALU POWER LOOKING FOR 5800 GAD COAL
COALspot.com - According to market information, PT Pustaka Jaya Palu Power, a power plant operator of the Mpanau plant, Palu, Sulawesi has invited c ...
Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
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- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
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