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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, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
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- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
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