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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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Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
Saturday, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month ...
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- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Parry Sugars Refinery, India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
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