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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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- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
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- Attock Cement Pakistan Limited
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- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
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- Orica Mining Services - Indonesia
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- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Grasim Industreis Ltd - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
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- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Salva Resources Pvt Ltd - India
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- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- SMC Global Power, Philippines
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- Mercuria Energy - Indonesia
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- Mjunction Services Limited - India
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- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
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- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
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- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
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- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
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