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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, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
Saturday, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- ICICI Bank Limited - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
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