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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, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
Monday, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
"THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow ...
Saturday, 31 July 10
TABONEO ANCHORAGE TO LOAD 1.5 MLN TON OR MORE COAL IN H1 AUGUST
COALspot.com: Eighty five ocean going vessels and barges have been nominated by coal buyers to their respective suppliers in Indonesia to load about ...
Saturday, 31 July 10
SEEMS THE FREIGHT MARKET WOULD BE FAIRLY STABLE FOR H2 2010 - VISTAAR
COALspot.com: The BDI continued moving up since 16th July and rise by 14 pct almost touching 2000 points.
The BDI was up by 7.72 pct last week wh ...
Friday, 30 July 10
DRY BULK MARKET BACK ON THE ROAD TO RECOVERY
Freight rates for dry bulk carriers have continued to edge higher this week, with the industry’s main benchmark, the Baltic Dry Index (BDI) ga ...
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- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- GMR Energy Limited - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- MS Steel International - UAE
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
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