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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- VISA Power Limited - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
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