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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...
Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...
Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...
Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...
Thursday, 04 March 10
BANPU KEEPS JORONG OUTPUT AT 2M TONNES
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is maintaining an output target of 2 million tonnes this year from its Jorong mi ...
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- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
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