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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, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
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- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
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