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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 $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
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- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Planning Commission, India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- White Energy Company Limited
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
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