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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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Tuesday, 09 November 10
NOBLE GROUP APPOINTED AS THE EXCLUSIVE MARKETING AGENT FOR PT. BERAU COAL
COALspot.com: Noble Group Limited has recently been appointed as the exclusive marketing agent for PT. Berau Coal production exported to internation ...
Monday, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
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- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
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