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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, 11 March 10
THE INDIAN MARKET WAS A BIT QUIET BUT STILL FIRM - FEARNLEYS AS
Handy - Atlantic activity has kept its firm tendency throughout the week for handies, with Atlantic RV´s fixed in the USD.16000 region. With s ...
Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are con ...
Wednesday, 10 March 10
PROTECTED FORESTS NOW UP FOR GRABS FOR MINING
The Jakarta Post reported that, the government has just issued two new regulations on forests, which could allow protected forests to be used for co ...
Tuesday, 09 March 10
REGULATION NO.23 OF 2010 CONCERNING IMPLEMENTATION OF NEW MINING LAW, PROVIDES MORE CLARITY ON OBTAINING A IUP
COALspot.com: Indonesian government has recently issued another regulation related to Law number 4 of 2009 concerning mineral and coal mining. Two r ...
Tuesday, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
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- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
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