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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, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
Monday, 04 October 10
2 BLN TONS OF COAL RESERVES DISCOVERED IN SOUTHERN PAKISTAN - XINHUA / HELLENIC SHIPPING
Xinhua and Hellenic Shipping reporte dhtat, the discovery of at least two billion tons of usable coal reserves has been confirmed in one of the ...
Sunday, 03 October 10
THE BDI WAS JUST INCREASED BY 8 POINTS AND CLOSED AT 2452 POINTS LAST FRIDAY - VISTAAR
COALspot.com: The BDI was almost at same levels and just increased by 8 points and closed at 2452 points , however the cape index was up by al ...
Sunday, 03 October 10
NALCO TO FINALIZE INDONESIA COAL DEAL BY JANUARY - HINDUSTAN TIMES
HindustanTimes reported that, state-owned National Aluminium Company (NALCO) will finalise a deal with a coal source in Indonesia for its $4 billion ...
Sunday, 03 October 10
INDONESIA WILL BECOME A NET IMPORTER OF ENERGY IN 2030 - BPPT
Jakarta Updates reported that,Indonesian Agency for the Assessment and Application of Technology (BPPT) predicted that the energy situation in Indon ...
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- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Planning Commission, India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
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