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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, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
Monday, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
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- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Planning Commission, India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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