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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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Thursday, 18 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
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Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
Wednesday, 17 February 10
LAND OVERLAPPING UNAVOIDABLE
Land overlapping issues in the mining industry is unavoidable due to the availability of mineral, coal, and oil resources which are often located be ...
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- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
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