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Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
 China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, helping the industry’s benchmark, the Baltic Dry Index (BDI) sustain a rally during the past week. Yesterday, the BDI reached new highs at 3,888 points, up by 66, with the Capesize segment once again leading the pack. The BCI (Baltic Capesize Index) is now at 4,878, while the Panamax market also gained to reached 4,196 points.
Commenting on the capesize market, Fearnley’s latest weekly report said that it was an interesting week, with firming rates all over. “The Pacific market remains strong with a current Australia - China market in the high USD 13s. For fronthaul, rates improved to mid 30s earlier this week. These relatively strong numbers are well supported by an active short period market improving from mid 30,000s to close to mid 40,000s in one week.
The main drivers this time is as always the FFA market, along with more coal cargoes from the Atlantic to the Far East. Similarly, “the Panamax market left last week on a positive note with high activity week on week. The trend continued into this week with firming rates, giving support to the period market. It was concluded several short period fixtures and mid week it is rumored a few 10/12 months deals being concluded in the Atlantic at levels ard usd 32,500 and 28k in the Pacific. Pac rounds are fixed at usd 34k and ows asking 35k for same. Atl rounds getting high 30´s and fronthauls in the mid 40´s range. In Feb, India exported more iron ore to China than Brazil did. Monsoon season is kicking in there now so this will be limited until September” said Fearnley’s.
In the smaller ship types, the Atlantic markets remain firm, but more enquiries are expected for the dates nearer to the end of May and early June. “Supramax vessels open in USG are now achieving low 50´s to the Med and mid/high 50´s to the Far East. Handymax tonnage ex Bsea achieving high 30´s fronthaul, supras high 40´s. The immediate outlook is for flat/stable conditions.
In the FEast, despite the holidays, the market remained firm with an upward sentiment. For NoPac rounds ex N.China expect mid/high 20´s, and a tick less for Indo/India and Indo/China coal trips. Activity on WCI is slowing with the Monsoon fast approaching, WCI to China mid/high 30´s and low 30´s for trips via R.Bay.
The period market was still firm, for short period Supras trading high 20´s” said the shipbroker.
Meanwhile, as it was reported this week, China, the world's biggest buyer of iron ore, imported 55.33 million metric tons in April this year, 6.2% less than the 59 million it imported in March, according to the country's General Administration of Customs. But, in the first four months of this year, China's iron ore imports rose 11.6% year on year to 210.3 million metric tons, said customs. In 2009, China discovered 3.52 billion metric tons of proven iron ore reserves, said the Ministry of Land and Resources. Iron ore imports soared 42% to a record 628 million metric tons last year, according to an earlier report from China Knowledge.
Last month, steel product exports were 4.31 million metric tons. During the period from January to April, China's steel product exports soared 99% year on year to 13.02 million metric tons.
Dry bulk ship owners had positive trends in other sectors as well, primarily the global grain trade, which, according to Commodore’s Research analyst, Andrew Winkler, it is expected to remain firm, “although a current surge from South America will likely recede in a few weeks as the peak South American grain season comes to an end. Overall levels of grain trade will remain moderate, however, and an additional surge is expected towards the end of the third quarter - when peak Australian grain season commences. In between these two peak seasons, a moderate amount of grain will still find its way on to dry bulk vessels.
Next year, overall grain trade is expected to increase further” said Winkler.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
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- IEA Clean Coal Centre - UK
- Planning Commission, India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
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