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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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Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
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- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
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