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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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Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
Sunday, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
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- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Eastern Coal Council - USA
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- Coal and Oil Company - UAE
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- Ministry of Finance - Indonesia
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- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
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- Tata Chemicals Ltd - India
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- Timah Investasi Mineral - Indoneisa
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- Electricity Authority, New Zealand
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- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
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- Aditya Birla Group - India
- SMG Consultants - Indonesia
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- Bulk Trading Sa - Switzerland
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- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
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- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
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- Minerals Council of Australia
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- Leighton Contractors Pty Ltd - Australia
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- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
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- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- MS Steel International - UAE
- Parliament of New Zealand
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
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- Sojitz Corporation - Japan
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