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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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Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
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- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Australian Coal Association
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
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