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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, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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Showing 6026 to 6030 news of total 6871 |
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- India Bulls Power Limited - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
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