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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, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
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- Orica Mining Services - Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
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