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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- The University of Queensland
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Planning Commission, India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Australian Coal Association
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
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