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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, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Australian Coal Association
- Planning Commission, India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
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