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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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Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
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- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Economic Council, Georgia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
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