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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
Thursday, 17 June 10
COAL EXPLORATION & DEVELOPMENTS HOTPOTS CONFERENCE
Press Release: The Coal Exploration and Developments Hotspots conference will bring together a panel of more than 20 of the world’s lead ...
Thursday, 17 June 10
AUSTRALIA'S LEIGHTON WINS $1.3 BILLION OF NEW WORK - THE JAKARTA POST
Australian construction and contract mining group Leighton Holdings Ltd. said Thursday it has won 1.5 billion Australian dollars ($1.3 billion) of n ...
Wednesday, 16 June 10
INDONESIAS STATE OWNED ELECTRICITY COMPANY WILL CONSUME 95.30 MILLION TONS OF COAL IN 2014
COALspot.com: Indonesia's state owned electricity company forecasted its coal requirement in 2014 would be around 95 million tons. ...
Wednesday, 16 June 10
MADHYA PRADESH GOVT IMPORT 50K METRIC TONNES OF COAL FROM INDONESIA - DNA INDIA
DNA India reported that, the Madhya Pradesh government has imported 50,000 metric tonnes of coal from Indonesia to deal with its shortage which is a ...
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- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Marubeni Corporation - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Planning Commission, India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
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