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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, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
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- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Australian Coal Association
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
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