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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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Tuesday, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Siam City Cement - Thailand
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- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
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- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
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- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
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- Directorate General of MIneral and Coal - Indonesia
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- Electricity Authority, New Zealand
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- Eastern Coal Council - USA
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- Siam City Cement PLC, Thailand
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- Global Business Power Corporation, Philippines
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- Wilmar Investment Holdings
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- Indian Oil Corporation Limited
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- Ceylon Electricity Board - Sri Lanka
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- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
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- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
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- European Bulk Services B.V. - Netherlands
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- Parry Sugars Refinery, India
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- Parliament of New Zealand
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- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
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- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
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- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
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- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
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- Independent Power Producers Association of India
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- Trasteel International SA, Italy
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
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- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Planning Commission, India
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- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
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- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
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- The University of Queensland
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- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
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