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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, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
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- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
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