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Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
 According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time charter average briefly went over the magic US$ 50,000/day mark, and market optimism was carried along by high prices in the FFA market plus strong trading on the Atlantic/Far East coal route. As South Africa entered a second week of strikes, the iron ore market was particularly badly hit with both Kumba (Anglo-American) and Xstrata declaring force majeure.
Suppliers have been able to cover demand with existing stocks but say the impact will be much more severe if the strike continues into a third week. In the steel markets, industry leaders warned prices would have to rise in reaction to the new quarterly ore price agreements, and steel could face new competition from aluminium and plastics. It comes at a time of recovering demand in many western markets. This week Germany reported a more than doubling in steel output to 3.88m tonnes for April compared to the same month last year.
Supramax/Handy
Despite holidays in various parts of the world, sentiment remained firm. Indian demand for Indonesian and Australian coal is still firm, as is nickel ore bound for China. This pushed rates to the high US$ 20,000s for Pacific employment and encouraged owners to ask in excess of US$ 30,000 for short period. That being said, ships open in India are now facing a shortage of ore due to the monsoon and have little alternative but to ballast across to south America where demand on the back of grain and sugar export is still strong. The north Atlantic saw high levels with Supramax asking in the mid US$ 40000s for trip from USG to Continent/ Med and mid US$ 50,000s for trip to the Far East. Handies are still in demand, particularly from the Continent with lots of grain, fertilizers and scrap stems.
Panamax
Overall, the Panamax market was stable in the Pacific and firm in the Atlantic. The TA round voyage closed the week at around US$ 39,000/day, up week-on-week from around US$ 35,000/day thanks to good coal activity out of the USG and grain out of ECSA. On the other side of the ocean the Indian market was quieter this week: WCI-China market is now paying low-mid US$ 30,000s and with the monsoon coming, the market should ease, freeing up some ballasters for the ECSA market. The market for this trade was paying over US$ 35,000 per day for trip to PG/Japan range via ECSA. The period market was active and takers were paying around US$ 32,000/day delivery north China for short period, and US$ 40,000 per day for delivery Atlantic redelivery worldwide.
Capesize
A strong week for the big ships, with the four time charter average breaching US$ 50,000 on Thursday, levels not seen since December 2009. Overall the BCI was up 10% and the 4TC 14%. Gains were partly spurred on by the FFA market, where an estimated 21,000-plus cleared trades were concluded, of which more than 40% were in the Cape market. Trading was heaviest for 2Q and 3Q, helping to push up rates in the physical market, although there was less optimism for later in the year. Rates eased on Friday and Monday although tonnage is still tight in the Atlantic and there is more activity expected from the mining companies this week. Four to six month fixtures were being signed in the low $ 40,000s.
Source: BRS Dry Bulk
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Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- The University of Queensland
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
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