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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, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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