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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
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- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
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