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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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Saturday, 13 February 10
COAL INDIA 2010/11 COAL IMPORTS TO JUMP - EXEC
Coal imports by state-run Coal India Ltd are likely to soar to 6-10 million tonnes in fiscal 2010/11 from an expected 1.5-1.7 million tonnes in the ...
Saturday, 13 February 10
RULES MAY FREE $10B OF MINING PROJECTS IN INDONESIA
The government announced on Friday that it had issued two implementing regulations for the new Mining Law that will clear the way for the developmen ...
Saturday, 13 February 10
INDONESIA OFFERS TAX INCENTIVES FOR RENEWABLE ENERGY
Indonesia is offering tax incentives to develop renewable energy projects, including geothermal energy, to cut dependency on fossil fuels, a decree ...
Friday, 12 February 10
MECHEL EYES 2010 COAL OUTPUT AT 28-29 MLN T
Russian steel and coking coal producer Mechel expects coal output to reach 28-29 million tonnes this year, returning to pre-crisis levels thanks to ...
Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
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Showing 6001 to 6005 news of total 6871 |
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- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Planning Commission, India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
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