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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, 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. Y ...
Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
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- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Planning Commission, India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
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