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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, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
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- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- White Energy Company Limited
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
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