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Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
 Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - the odds are clearly against the drybulk sector absorbing the current newbuilding orderbook. The size of the demand/supply mismatch will determine whether dry bulk shipping shall face a soft or hard landing. We all hope for a soft landing but we are bracing ourselves for a hard landing. Once bitten - twice shy!
In 2008, the BDI had reached 11,793 points on 20th May and it fell to 663 points on December 5th of the same year; the speed and the scale of this short-term "crisis" took the shipping industry by surprise. The recovery in 2009 has been also unexpected but welcome; restoring the confidence of all parties involved. Is what we are experiencing today "deja-vu"?
Some years ago, a charter rate of $18,000 per day for a modern panamax was considered to be very robust. Today, the same vessel is chartered at this level but, for some owners, this is NOT necessarily considered a good rate. In other words, we face the paradox that the current market can be interpreted at the same time good for some and modest or bad for other owners, depending on their investment position.
Although rates are well down from the high levels of recent years, historically they are still relatively good and should be profitable, so the market is not bad, but to those who have not been around for the last 20 years they seem low. We should not forget the fact that between 1985 and 2003, BDI ranged between 600 and 2,200 points....
It would be a shot in the dark to try and guess on where the market is heading. But, if the recent plunge of the Baltic Dry Index continues; it is almost certain that, at some point, vessel prices will be forcibly reduced to a level that will be in direct correlation with freight market conditions. Something similar to what the shipping market experienced at the beginning of 2009 - and who would want to lose out again on such a chance to buy low?
Chartering (Wet: Soft- / Dry: Weaker-)
No improvement was noted in the dry bulk market this week, as rates continued to fall across the board pushing the BDI to a more than 14 month low. The BDI today (13/07/2010) closed at 1,790points, a decrease of 50 points compared to Monday’s (12/07/2010) closure, and a drop of 337 points compared to last Tuesday’s levels ( 06/07/2010). Tankers also faced a second consecutive week of dropping rates as demand from the US and Far East continues to drop.
The BDTI, Monday (12/07/2010), was at 789, 35 points down and the BCTI at 812, a decrease of 6 points from last Monday’s levels (05/06/2010).
Chartering
With almost non existent activity noted in the iron ore trade and demand for coal remaining fairly weak, Capes continue on their downward spiral reaching now a more than 14 month low. The steep decline of the fall noted these past 2 months has severely depressed market sentiment making it hard for owners to fight of any further drop, while the large numbers of newbuilding deliveries entering the water every week provides charterers with more than ample tonnage to push rates down further.
Panamaxes continued to lose ground as activity is still at the low end especially in the North Atlantic. The was some improvement in the ECSA market as fresh cargo orders started to apear. However this seemed to be too little too late, as the number of prompt tonnage in the area provide charterers with the leverage they need to soften freight levels further.
A soft week for Handys as well in both the Pacific and Atlantic basins. The larger Supramaxes and Handymaxes mainly saw activity in ECSA as well as off India were some fresh enquiries started to appear. Smaller handysize vessels looked to perform worse this week as activity in the Black Sea/Cont regions dropped further.
Source: intermodal (by Tasos Papadopoulos)
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Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
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- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
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