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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, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
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- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Planning Commission, India
- Australian Coal Association
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
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