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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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Saturday, 09 October 10
9TH ASIA PACIFIC MINING CONFERENCE & EXHIBITION 13 14 OCTOBER 2010 AT SHANGRI-LA HOTEL, JAKARTA.
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
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- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- White Energy Company Limited
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
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