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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain f ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
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- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- PTC India Limited - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- VISA Power Limited - India
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
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