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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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Saturday, 30 January 10
THE ECI / CHINA (S7) ROUTE SOFTENED BY $ 5,736 AND CLOSED AT $ 27,360 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week probably in anticipation of Chinese New year holidays.
BDI INDEX
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Saturday, 30 January 10
INDONESIA TO CONSTRUCT 93 POWER PLANTS IN 2ND PROJECT
The government has announced its list of 93 power plants to be built under the second 10,000-megawatt (MW) power generation scheme.
"With th ...
Saturday, 30 January 10
COAL FIRMS TO KEEP NATION IN THE BLACK
Some Indonesian coal mining companies on Friday pledged to allocate a greater share of their production this year to meet domestic market obligation ...
Friday, 29 January 10
INDIA STEAM COAL IMPORTS TO DOUBLE, BOOST SOUTH AFRICA
* SAfrica seen shipping 75 pct of its coal to Asia in 2010
* Logistics woes hamper SAfrica exports, India imports
India's steam coal imports ar ...
Thursday, 28 January 10
THE IRON ORE EXPORTS FROM INDIA TO CHINA ARE DOWN AND THE RATES DROPPED
HANDY
The BSI has continued its downward trend confirming the softening of the Atlantic since the previous week and reflecting a correction of the ...
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- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
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