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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, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- Wilmar Investment Holdings
- White Energy Company Limited
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- Parliament of New Zealand
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- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
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- Meralco Power Generation, Philippines
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- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
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- Energy Link Ltd, New Zealand
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- Price Waterhouse Coopers - Russia
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- Thiess Contractors Indonesia
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- Australian Coal Association
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- Leighton Contractors Pty Ltd - Australia
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- Tata Chemicals Ltd - India
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- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
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- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
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- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
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- Bhoruka Overseas - Indonesia
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- Medco Energi Mining Internasional
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- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
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- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
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- Neyveli Lignite Corporation Ltd, - India
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- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
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- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
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- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
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- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
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- Kepco SPC Power Corporation, Philippines
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- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
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- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
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- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
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- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
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