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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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Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
Friday, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
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- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- VISA Power Limited - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- White Energy Company Limited
- Planning Commission, India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- The University of Queensland
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Australian Coal Association
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
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