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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, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
Monday, 23 May 11
BRMS IS TO START PRODUCTION FROM DAIRI PRIMA MINERALS
COALspot.com - The Presidential Decree No. 28 Year 2011 that allows conditional underground mining in the protected forest areas was issued on 19th ...
Sunday, 22 May 11
INDONESIA - INDIA IS LIKELY TO BE STEADY NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market remained soft beginning of the week, however second half of the week was firm with BDI up by 3.29 pct and closed a ...
Saturday, 21 May 11
OWNERS PREFER TO DO INDO COAL OR NICKEL ORE TO CHINA RATHER THAN GOING TO INDIA - FEARNBULK
Handy
The Atlantic is marked by volatility and very positional, nevertheless USG,NCSA, Cont remain strong thanks to the petcoke, grains and scrap ...
Friday, 20 May 11
GOVT TOLD TO LIMIT COAL, GAS EXPORTS - THE JAKARTA POST
The Jakarta Post, a leading news paper in Indonesia, reported that, Amid soaring global oil prices, the government should limit exports of coal and ...
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- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- The University of Queensland
- Heidelberg Cement - Germany
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
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