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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
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- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Planning Commission, India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Australian Coal Association
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
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