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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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Wednesday, 17 February 10
JORONG COULD COST BANPU 5%
Banpu Plc, Asean's biggest coal miner, forecasts a 5% drop in revenue if its suspended coal mine in Indonesia is closed for one year, says presiden ...
Wednesday, 17 February 10
RUSSIA KRU JAN COAL EXPORTS DOWN 4 PCT
Kuzbassrazrezugol, Russia's second largest steam coal producer, exported 1.859 million tonnes of coal last month, down 80,000 tonnes or 4 percent f ...
Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedant ...
Tuesday, 16 February 10
TRENDS DRY BULK MARKET ... TRENDS - BRS
The start of the Chinese New Year had an immediate impact on rates and for once all the dry bulk segments lost similar ground.
The BDI fell 5%, a ...
Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
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- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Australian Coal Association
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
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