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Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
 China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, helping the industry’s benchmark, the Baltic Dry Index (BDI) sustain a rally during the past week. Yesterday, the BDI reached new highs at 3,888 points, up by 66, with the Capesize segment once again leading the pack. The BCI (Baltic Capesize Index) is now at 4,878, while the Panamax market also gained to reached 4,196 points.
Commenting on the capesize market, Fearnley’s latest weekly report said that it was an interesting week, with firming rates all over. “The Pacific market remains strong with a current Australia - China market in the high USD 13s. For fronthaul, rates improved to mid 30s earlier this week. These relatively strong numbers are well supported by an active short period market improving from mid 30,000s to close to mid 40,000s in one week.
The main drivers this time is as always the FFA market, along with more coal cargoes from the Atlantic to the Far East. Similarly, “the Panamax market left last week on a positive note with high activity week on week. The trend continued into this week with firming rates, giving support to the period market. It was concluded several short period fixtures and mid week it is rumored a few 10/12 months deals being concluded in the Atlantic at levels ard usd 32,500 and 28k in the Pacific. Pac rounds are fixed at usd 34k and ows asking 35k for same. Atl rounds getting high 30´s and fronthauls in the mid 40´s range. In Feb, India exported more iron ore to China than Brazil did. Monsoon season is kicking in there now so this will be limited until September” said Fearnley’s.
In the smaller ship types, the Atlantic markets remain firm, but more enquiries are expected for the dates nearer to the end of May and early June. “Supramax vessels open in USG are now achieving low 50´s to the Med and mid/high 50´s to the Far East. Handymax tonnage ex Bsea achieving high 30´s fronthaul, supras high 40´s. The immediate outlook is for flat/stable conditions.
In the FEast, despite the holidays, the market remained firm with an upward sentiment. For NoPac rounds ex N.China expect mid/high 20´s, and a tick less for Indo/India and Indo/China coal trips. Activity on WCI is slowing with the Monsoon fast approaching, WCI to China mid/high 30´s and low 30´s for trips via R.Bay.
The period market was still firm, for short period Supras trading high 20´s” said the shipbroker.
Meanwhile, as it was reported this week, China, the world's biggest buyer of iron ore, imported 55.33 million metric tons in April this year, 6.2% less than the 59 million it imported in March, according to the country's General Administration of Customs. But, in the first four months of this year, China's iron ore imports rose 11.6% year on year to 210.3 million metric tons, said customs. In 2009, China discovered 3.52 billion metric tons of proven iron ore reserves, said the Ministry of Land and Resources. Iron ore imports soared 42% to a record 628 million metric tons last year, according to an earlier report from China Knowledge.
Last month, steel product exports were 4.31 million metric tons. During the period from January to April, China's steel product exports soared 99% year on year to 13.02 million metric tons.
Dry bulk ship owners had positive trends in other sectors as well, primarily the global grain trade, which, according to Commodore’s Research analyst, Andrew Winkler, it is expected to remain firm, “although a current surge from South America will likely recede in a few weeks as the peak South American grain season comes to an end. Overall levels of grain trade will remain moderate, however, and an additional surge is expected towards the end of the third quarter - when peak Australian grain season commences. In between these two peak seasons, a moderate amount of grain will still find its way on to dry bulk vessels.
Next year, overall grain trade is expected to increase further” said Winkler.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
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- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Planning Commission, India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
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