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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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Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
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Showing 5751 to 5755 news of total 6871 |
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- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- PTC India Limited - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
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