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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
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