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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, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
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