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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, 10 April 10
VESSELS OPEN N. CHINA WERE SEEN FIXED AT HIGH TEENS FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SINGAPORE
COALspot.com: The BDI indices was almost at same levels was down by only 2.6 pct.
The cape index was down by almost 13 pct, which appears to be s ...
Saturday, 10 April 10
KRISHNAPATNAM PORT GROWS BY ALMOST 100% IN ITS SECOND YEAR OF OPERATIONS
COALspot.com ( Press Release): It has been a year of setting numerous records for Krishnapatnam Port. Krishnapatnam Port is only in its second year ...
Saturday, 10 April 10
TRANS-ASIA SEEKS SEMIRARA, INDO SUPPLIERS FOR COAL POWER PLANT - MANILA STANDARD TODAY
Manila Standard Today reported that, Trans-Asia Oil & Energy Development Corp., a unit of the Phinma Group, will tap Semirara Mining Corp. ...
Thursday, 08 April 10
THE FAR EAST SHIPPING MARKET FIRMING SINCE THE LAST WEEK
Handy
Little fresh interest early this week after the holidays. The BSI saw yest ...
Thursday, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
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- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
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