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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, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
Thursday, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
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- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Australian Coal Association
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
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