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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, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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Showing 6006 to 6010 news of total 6871 |
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- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
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