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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, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
Wednesday, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
...
Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry&rs ...
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- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- The University of Queensland
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
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