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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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Friday, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
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