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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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- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
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