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