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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
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- Australian Coal Association
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
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