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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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Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
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- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- The University of Queensland
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
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