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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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Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
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- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- The University of Queensland
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Australian Coal Association
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
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