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Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
 Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - the odds are clearly against the drybulk sector absorbing the current newbuilding orderbook. The size of the demand/supply mismatch will determine whether dry bulk shipping shall face a soft or hard landing. We all hope for a soft landing but we are bracing ourselves for a hard landing. Once bitten - twice shy!
In 2008, the BDI had reached 11,793 points on 20th May and it fell to 663 points on December 5th of the same year; the speed and the scale of this short-term "crisis" took the shipping industry by surprise. The recovery in 2009 has been also unexpected but welcome; restoring the confidence of all parties involved. Is what we are experiencing today "deja-vu"?
Some years ago, a charter rate of $18,000 per day for a modern panamax was considered to be very robust. Today, the same vessel is chartered at this level but, for some owners, this is NOT necessarily considered a good rate. In other words, we face the paradox that the current market can be interpreted at the same time good for some and modest or bad for other owners, depending on their investment position.
Although rates are well down from the high levels of recent years, historically they are still relatively good and should be profitable, so the market is not bad, but to those who have not been around for the last 20 years they seem low. We should not forget the fact that between 1985 and 2003, BDI ranged between 600 and 2,200 points....
It would be a shot in the dark to try and guess on where the market is heading. But, if the recent plunge of the Baltic Dry Index continues; it is almost certain that, at some point, vessel prices will be forcibly reduced to a level that will be in direct correlation with freight market conditions. Something similar to what the shipping market experienced at the beginning of 2009 - and who would want to lose out again on such a chance to buy low?
Chartering (Wet: Soft- / Dry: Weaker-)
No improvement was noted in the dry bulk market this week, as rates continued to fall across the board pushing the BDI to a more than 14 month low. The BDI today (13/07/2010) closed at 1,790points, a decrease of 50 points compared to Monday’s (12/07/2010) closure, and a drop of 337 points compared to last Tuesday’s levels ( 06/07/2010). Tankers also faced a second consecutive week of dropping rates as demand from the US and Far East continues to drop.
The BDTI, Monday (12/07/2010), was at 789, 35 points down and the BCTI at 812, a decrease of 6 points from last Monday’s levels (05/06/2010).
Chartering
With almost non existent activity noted in the iron ore trade and demand for coal remaining fairly weak, Capes continue on their downward spiral reaching now a more than 14 month low. The steep decline of the fall noted these past 2 months has severely depressed market sentiment making it hard for owners to fight of any further drop, while the large numbers of newbuilding deliveries entering the water every week provides charterers with more than ample tonnage to push rates down further.
Panamaxes continued to lose ground as activity is still at the low end especially in the North Atlantic. The was some improvement in the ECSA market as fresh cargo orders started to apear. However this seemed to be too little too late, as the number of prompt tonnage in the area provide charterers with the leverage they need to soften freight levels further.
A soft week for Handys as well in both the Pacific and Atlantic basins. The larger Supramaxes and Handymaxes mainly saw activity in ECSA as well as off India were some fresh enquiries started to appear. Smaller handysize vessels looked to perform worse this week as activity in the Black Sea/Cont regions dropped further.
Source: intermodal (by Tasos Papadopoulos)
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Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
Monday, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
"THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow ...
Saturday, 31 July 10
TABONEO ANCHORAGE TO LOAD 1.5 MLN TON OR MORE COAL IN H1 AUGUST
COALspot.com: Eighty five ocean going vessels and barges have been nominated by coal buyers to their respective suppliers in Indonesia to load about ...
Saturday, 31 July 10
SEEMS THE FREIGHT MARKET WOULD BE FAIRLY STABLE FOR H2 2010 - VISTAAR
COALspot.com: The BDI continued moving up since 16th July and rise by 14 pct almost touching 2000 points.
The BDI was up by 7.72 pct last week wh ...
Friday, 30 July 10
DRY BULK MARKET BACK ON THE ROAD TO RECOVERY
Freight rates for dry bulk carriers have continued to edge higher this week, with the industry’s main benchmark, the Baltic Dry Index (BDI) ga ...
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- Central Java Power - Indonesia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Australian Coal Association
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
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