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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
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- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Minerals Council of Australia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
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