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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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Friday, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
Friday, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
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- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
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