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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, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
Wednesday, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
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- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
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