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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, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
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- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- The University of Queensland
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
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