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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
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- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
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