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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
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- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- The University of Queensland
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
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