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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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Thursday, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
Thursday, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, ...
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- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
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