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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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Wednesday, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
Tuesday, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
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- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
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