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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
Friday, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
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- The Treasury - Australian Government
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- The University of Queensland
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Planning Commission, India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- MS Steel International - UAE
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