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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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Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
Thursday, 19 August 10
INDONESIA EXPORTED 5.93 MLN TON OF COAL TO CHINA AND 3.52 MLN TONS TO INDIA IN JULY
COALspot.com: Indonesia shipped 3.52 million tones of thermal coal to India in July, fell 25.39 percent compared to June's exports of 4.71 million ...
Thursday, 19 August 10
WBPDCL INDIA LAUNCHES SPOT COAL TENDER
COALspot.com: The West Bengal Power Development Corporation Limited (WBPDCL ), A Govt. of West Bengal Enterprise, has launched spot contract tender ...
Thursday, 19 August 10
PANAMAX BACKED BY A STRONGER SHORT PERIOD MARKET AND SUPPORTED BY SOME FRESH REQUIREMENTS - FEARNBULK
Handy
The events of this week have confirmed our assessment of last week i.e. activity gradually picked up in the Atlantic with more enquiry seen ...
Thursday, 19 August 10
CSC TO SHIP COAL FOR NOROCHCHOLAI POWER PLANT
Daily Mirror reported that, coal for the Norochcholai Power Plant will be shipped to the country by the Ceylon Shipping Corporation (CSC) officials ...
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- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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