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