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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, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...
Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...
Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...
Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...
Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
...
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- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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