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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, 09 September 10
INDONESIA SWAPS COAL FOR INFRASTRUCTURE - FT
As Asia’s major economies bound forward and their hunger for energy surges over the next decade, Indonesia is strategically positioned to take ...
Thursday, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
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- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
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