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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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Saturday, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
ABC - CBN News reported that, State-run National Power Corp. (Napocor) said on Thursday it awarded 2 contracts for the supply of a total 122,000 ton ...
Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
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- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
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