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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, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
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- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- The University of Queensland
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
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