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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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Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
Friday, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
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- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
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- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- The University of Queensland
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
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