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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
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- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
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