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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
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- VISA Power Limited - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Australian Coal Association
- The University of Queensland
- MS Steel International - UAE
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
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