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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
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