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