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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, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
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- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Eastern Coal Council - USA
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- White Energy Company Limited
- IEA Clean Coal Centre - UK
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