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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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Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- The University of Queensland
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
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