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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, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaiku ...
Tuesday, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
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- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
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