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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, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
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- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- GMR Energy Limited - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
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