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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, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
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- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
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