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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, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
Tuesday, 02 August 11
INDONESIA BECOMES SECOND LARGEST COKING COAL EXPORTER
COALspot.com - Indonesia, the largest thermal coal exporter in the world now becomes second biggest coking coal exporter to Japan. Indonesian’ ...
Tuesday, 02 August 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK TO PRESENT LATEST TRENDS
Press Release - Global commodities prices have been staying high since the beginning of 2011, resulting in the “TENSION” in various coun ...
Tuesday, 02 August 11
REALM RESOURCES TO ACQUIRE A 75% INTEREST IN THE KATINGAN RIA COAL PROJECT
COALspot.com - Scoping study at the Katingan Ria Coal Project, Central Kalimantan demonstrates positive technical and financial potential for the pr ...
Tuesday, 02 August 11
COAL INDIA TO INVEST IN GOLDEN ENERGY MINES
COALspot.com - Golden Energy Mines, part of PT Dian Swastatika Sentosa Tbk’s, is still negotiating with several strategic investors to o ...
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- Goldman Sachs - Singapore
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Australian Coal Association
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- The University of Queensland
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
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