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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
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- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
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