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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, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
Saturday, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
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- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Planning Commission, India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
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