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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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Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
Saturday, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
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- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Attock Cement Pakistan Limited
- White Energy Company Limited
- MS Steel International - UAE
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
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