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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, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
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- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
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- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
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- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
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- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
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- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
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- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
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- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
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- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
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- ICICI Bank Limited - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- PTC India Limited - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Commonwealth Bank - Australia
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