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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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Tuesday, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
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- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
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