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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, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
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- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- The University of Queensland
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Carbofer General Trading SA - India
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