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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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- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
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