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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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Friday, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
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- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- PTC India Limited - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
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