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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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Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Australian Coal Association
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
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