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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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Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
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- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
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