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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
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- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- The University of Queensland
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
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