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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, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
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