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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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Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
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- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
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