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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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Tuesday, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Australian Coal Association
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
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