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