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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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Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
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- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Australian Coal Association
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
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