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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- The University of Queensland
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
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