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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
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- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Planning Commission, India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- The University of Queensland
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- GMR Energy Limited - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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