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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, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
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- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Parliament of New Zealand
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
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