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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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Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
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- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Aditya Birla Group - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- The University of Queensland
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Minerals Council of Australia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
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