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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, 23 June 11
DRY BULK MARKET KEEPS EXHIBITING SIGNS OF WEAKNESS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to climb at new highs this week, showing signs of weakness, across most ship types. Yesterday, the Baltic Dry ...
Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 m ...
Tuesday, 21 June 11
SURGE IN PRODUCTION AND PRICES TO PUSH BUKIT ASAMS NET PROFITS ABOVE RP 3T - THE JAKARTA GLOBE
State-owned coal company Perusahaan Tambang Batubara Bukit Asam expects its net income to increase about 50 percent this year on the back of rising ...
Tuesday, 21 June 11
COURT BATTLE PUTS MASSIVE COAL PROJECT IN JEOPARDY - KOREA JOONGANG DAILY
As Korean companies race to exploit Indonesia’s abundant natural resources, two companies have been locked in a court case that has become so ...
Tuesday, 21 June 11
DRY BULK MARKET TURNS RED AGAIN ON VESSEL OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk entered this week on a negative turn, with the industry’s benchmark the Baltic Dry Index (BDI) retreating by 0.35% to end the ses ...
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Showing 5216 to 5220 news of total 6871 |
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- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- White Energy Company Limited
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
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