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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, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
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- Altura Mining Limited, Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Planning Commission, India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
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