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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, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
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- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
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