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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
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- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Planning Commission, India
- PTC India Limited - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
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