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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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Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
Saturday, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
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- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Grasim Industreis Ltd - India
- Planning Commission, India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- The Treasury - Australian Government
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Economic Council, Georgia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
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