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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
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- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Coalindo Energy - Indonesia
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