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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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Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
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- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
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