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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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Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
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- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
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