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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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Friday, 26 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
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- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Economic Council, Georgia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
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