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Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
.jpg) The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much higher. The Baltic Dry Index move forward to surpass the 3,000-point once again and end the week at 3,009 points. According to Weberseas’ latest weekly report “improving rates are pushing the indices upwards albeit at a steadier pace. All the market indices have finished the week positively with increases between 1-4%” said the report.
It further added that no doubt there is solid demand from China and coupled with the continued congestion around the world's main loading/discharging ports we are seeing a supply/demand imbalance. “Worldwide congestion currently stands at around 31 million deadweight. Australia and Brazil are accounting for about one third of this. At Australia's loading ports there are 5.7 million deadweight of ships waiting (half of which are panamax bulkers with 40 odd of these ships stuck in waiting). The figure is slightly less in Brazil at 4.7 mill deadweight” said Weberseas.
As the talks continue between the Chinese steel mills and the major mining producers (BHP Billiton, Rio Tinto and Vale) more and more of the Chinese importation is done via spot fixtures from other areas with India getting the lion's share. This means that supramax and panamax bulkers are benefiting and presently experiencing strong freight numbers. Panamax bulkers seem to be benefiting the most at the moment from the congestion and we are seeing the BPI standing at a 25% premium over the BCI (4,034 and 3,071 respectively). Both the supramax and panamax segments have also been assisted by the good grain trading volumes.
But brokers remained cautious, as their primary concern is the fact that rising iron ore prices could hurt demand and hit cargo activity. Iron ore prices in Asia were rising throughout the week, continuing a rally that started last month, with high grade ores at their highest since August 2008, Reuters said in a report, adding that China has been buying Indian iron ore, shipped using supramaxes, bolstering rates on the smaller vessel market.
Analysts from Commodore Research indicated in another update on Chinese commodity demand that China’s restrictions on iron ore imports have forced spot ore prices to increase sharply. Chinese iron ore fixtures have remained relatively firm this week, ore fixtures were very low yesterday and on Monday - but today they have increased. Chinese ore demand continues to remain firm, and, so far, importers are not truly heading a call to boycott Australian and Brazilian iron ore. Spot Indian iron ore prices have increased to approximately $146/ton FOB, an increase of $22 (18%) from April 5.
Omar Nokta of Dahlman Rose stated that if the quoted Vale price is accurate, the dry bulk market could see significant upside in the coming weeks, as $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
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- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Minerals Council of Australia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- PTC India Limited - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
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