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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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Saturday, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
ABC - CBN News reported that, State-run National Power Corp. (Napocor) said on Thursday it awarded 2 contracts for the supply of a total 122,000 ton ...
Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
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- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
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