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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Planning Commission, India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- The University of Queensland
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Marubeni Corporation - India
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