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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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Friday, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
Thursday, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
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