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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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Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
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- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- The University of Queensland
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
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