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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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Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
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- Deloitte Consulting - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
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