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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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Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
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