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Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
 Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financial crisis. As of 24 December, the indices were showing 3,005 points for the BDI, 3,887 for the BCI, 3,567 for the BPI, 2,224 for the BSI and 1,159 for the Handysizes. With the exception of the Capesizes, these rates are all higher than the average for 2009, and overall the BDI has only lost around 50% of its value compared to 2008.
This is a far cry from the lows seen in late 2008 when rates lost nearly 90% of their value. Looking forward, market sentiment is still relatively positive for the short-term. This is especially the case if Chinese buyers start to stockpile ahead of an anticipated increase in ore prices.
Adding to the momentum, Vale said this week it expected to increase 2010 ore output back up to 2008 levels. India’s decision to introduce new ore export tariffs is not expected to have a huge impact meanwhile. Although some believe this will push China further into the arms of the ‘big three’ ore producers, putting further pressure on ore prices, others argue that steel mills will be able to absorb the extra cost given today’s steel prices. For their part, India’s exporters believe the new duties will reduce exports by about 6 million tonnes in the current fiscal year, a decline of 5%.
Capesize
After losing 15% in the week before Christmas, the Cape market quickly bounced back into action in the New Year, recording a +300 point gain on the first day of 2010 trading. As of 4 January 2010, the BDI stood at 4,197 points, while the four time charter average was hovering just short of the US$ 40,000 mark, at US$39,978.
Despite the sharp drop in spot prices at the end of the year, the paper market remained strong with forward rates for 2010 and 2011 actually rising. At 31 December, first-quarter 2010 contracts were trading at US$43,000. Meanwhile in the charter market, one-year time charters were trading around the US$35,000 per day mark.
Panamax
Despite Christmas and the New Year holidays, market sentiment remained positive for the short-term, with rates picking up in both the Atlantic and Pacific regions.
Today we heard of a one-year deal being concluded on an LME with prompt Atlantic delivery at an improved US$27,000. The vessel has now been relet by sub charterers for a Transatlantic round voyage at US$36,500, which represents an increase of around US$4,000 compared to pre-Christmas levels.
The Pacific in turn has seen rates increase at similar levels with reports of US$28,000 being done today by a grain house for a Nopac round voyage although this was positional and there would appear to be no immediate shortage of tonnage in this basin. With the FFA market supporting physical too, we are starting to see short/long buyers looking for the right opportunities.
Supra/Handy
The market remained quiet over the last 10 days with most charterers having cleared their desks before the holidays.
There remained a few spot vessels here and there, but the underlying sentiment remained firm. A prospectively busy January should keep the steam up from the Continent and USA, where there are still scrap, petcoke and fertilizer cargoes to cover.
India remains hot, and there were rumours of a Supramax fixed in the upper US$30,000s.
Meanwhile the Far East/South East Asia region is still benefiting from the Chinese appetite for coal, iron ore, nickel ore and bauxite from Indonesia, Philippines and Australia.
Source: BRS Dry Bulk
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Wednesday, 06 January 10
SAS 2009 COAL EXPORTS THROUGH RBCT FLAT AT 61MT
Exports through South Africa’s Richards Bay Coal Terminal (RBCT) remained flat in 2009, as the terminal faced “critical business challen ...
Wednesday, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
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