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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, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
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- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
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