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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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Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
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- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
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