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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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- Aditya Birla Group - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- VISA Power Limited - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
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