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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, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
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- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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