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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, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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Showing 6011 to 6015 news of total 6871 |
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- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Australian Coal Association
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- The University of Queensland
- Parry Sugars Refinery, India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
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