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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
Thursday, 17 June 10
COAL EXPLORATION & DEVELOPMENTS HOTPOTS CONFERENCE
Press Release: The Coal Exploration and Developments Hotspots conference will bring together a panel of more than 20 of the world’s lead ...
Thursday, 17 June 10
AUSTRALIA'S LEIGHTON WINS $1.3 BILLION OF NEW WORK - THE JAKARTA POST
Australian construction and contract mining group Leighton Holdings Ltd. said Thursday it has won 1.5 billion Australian dollars ($1.3 billion) of n ...
Wednesday, 16 June 10
INDONESIAS STATE OWNED ELECTRICITY COMPANY WILL CONSUME 95.30 MILLION TONS OF COAL IN 2014
COALspot.com: Indonesia's state owned electricity company forecasted its coal requirement in 2014 would be around 95 million tons. ...
Wednesday, 16 June 10
MADHYA PRADESH GOVT IMPORT 50K METRIC TONNES OF COAL FROM INDONESIA - DNA INDIA
DNA India reported that, the Madhya Pradesh government has imported 50,000 metric tonnes of coal from Indonesia to deal with its shortage which is a ...
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- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Planning Commission, India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
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