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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, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
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- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- PTC India Limited - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
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