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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, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
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- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
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