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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, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
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- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
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