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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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Tuesday, 09 March 10
STRONG REBOUND IN ALL THE DRY BULK SEGMENTS THIS WEEK
There was a strong rebound in all the dry bulk segments this week, leading to an 18% jump in the Baltic Dry Index.
The Cape and Panamax markets s ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
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- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
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