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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
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- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- The University of Queensland
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Economic Council, Georgia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Ministry of Transport, Egypt
- Minerals Council of Australia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
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