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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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Wednesday, 20 October 10
CANADIAN CHALLENGER ACQUIRES INDONESIAN COAL PROJECT
COALspot.com (Press Release): According to Challenger Deep Resources Corp's website and press release posted on the site, Challenger Deep Res ...
Wednesday, 20 October 10
ADANI THE LARGEST COAL IMPORTER OF INDIA IS NEGOTIATING WITH COAL INDIA LIMITED FOR A SUPPLY AGREEMENT - TOP NEWS
Top News reported that, negotitations are very much on between Adani Enterprises, the biggest coal importer of the country and Coal India Limited, t ...
Wednesday, 20 October 10
UAE FIRM IN INDONESIA RAIL DEAL - GULF NEWS
Gulf News reported that, construction of a 140-kilometre railway in Indonesia, initiated by RAK Minerals and Metals Investments (RMMI) will start ne ...
Wednesday, 20 October 10
CAPESIZES FINDING SUPPORT IN IRON ORE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk ship owners, e ...
Saturday, 16 October 10
BDI WAS MARGINALLY UP BY 2.45 PCT LAST WEEK - VISTAAR SHIPPING
COALspot.com: The BDI seemed to lose the moment compared to last week and was marginally by 2.45 pct and closed at 2,762 points.
Also the Cape in ...
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- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- PTC India Limited - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
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