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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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Friday, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
Thursday, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- CNBM International Corporation - China
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
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