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