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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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Showing 5926 to 5930 news of total 6871 |
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- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
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