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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, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Australian Coal Association
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- The University of Queensland
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
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