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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, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
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- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
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