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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Planning Commission, India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- PTC India Limited - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
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