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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, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
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- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
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