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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
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- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
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