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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
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- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Parliament of New Zealand
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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