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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, 03 February 10
RECOVERY IN INDONESIAN MINING SECTOR EXPECTED TO BOOST SALES, UNITED TRACTORS SAYS
PT United Tractors, the country’s biggest supplier of heavy equipment, said on Tuesday that it expected sales to increase 15 percent this year ...
Tuesday, 02 February 10
THAI BANPU SAYS HIGHER COSTS TO HIT COAL PROFITS
Thailand's top coal miner, expects profits from its coal business in 2010 to be lower than last year due to higher costs, but its chief executive i ...
Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The bo ...
Sunday, 31 January 10
AUSTRALIA NEWCASTLE THERMAL COAL FALLS 0.7 PERCENT TO $ 98.53
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 0.7 percent, falling for the first time in four weeks. ...
Sunday, 31 January 10
NTPC TO IMPORT COAL
NTPC Ltd plans to import coal directly, starting next fiscal.
“We plan to import 15-16 million tonnes of coal directly from next year,&rdqu ...
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Showing 6036 to 6040 news of total 6871 |
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- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Australian Coal Association
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
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