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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, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
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- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
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