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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, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- ASAPP Information Group - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
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