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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, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
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- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Australian Coal Association
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
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