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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, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
Monday, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
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- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
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