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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, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
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- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
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