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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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Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
Monday, 13 September 10
FREIGHT MARKETS MAY BE A BIT SOFT THIS WEEK - VISTAAR SINGAPORE
COALspot.com: The freight market continued its upward trend with the BDI almost touching 3000 points. However the uncertainty seems to continue with ...
Friday, 10 September 10
INDONESIAN RAILWAY CONTRACT STILL UP FOR BIDDING - LOGISTICS WEEK
The tender process for a $2.2bn project to build a coal-transporting railway line in Central Kalimantan province, Indonesia, is still underway and n ...
Friday, 10 September 10
WCI INTO CHINA WITH IRON ORE ARE AIMING AROUND $ 20K - FEARNBULK
Handy
The rates are firm in every corner of the world. However it still looks Atlantic/Baltic/Black Sea offer better employment opportunities for ...
Thursday, 09 September 10
INDIANS BALCO TO BUY 50 K OF 3,000 TO 4,500 GAR CALORIFIC VALUE COAL
COALspot.com: Bharat Aluminium Company Limited (BALCO) is a subsidiary of Sterlite Industries (India) Limited and part of Vedanta Resources PLC, a L ...
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- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Australian Coal Association
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
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