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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, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
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- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
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