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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
Tuesday, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
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- Malabar Cements Ltd - India
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- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
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- Jaiprakash Power Ventures ltd
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- Vedanta Resources Plc - India
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- White Energy Company Limited
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- Aboitiz Power Corporation - Philippines
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- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
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- Eastern Energy - Thailand
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- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
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- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
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- Global Coal Blending Company Limited - Australia
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- Chamber of Mines of South Africa
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- London Commodity Brokers - England
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- TeaM Sual Corporation - Philippines
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- Africa Commodities Group - South Africa
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- Altura Mining Limited, Indonesia
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- Australian Coal Association
- The State Trading Corporation of India Ltd
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
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- Neyveli Lignite Corporation Ltd, - India
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- The Treasury - Australian Government
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- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
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- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
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- Vizag Seaport Private Limited - India
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- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
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- Electricity Generating Authority of Thailand
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- CIMB Investment Bank - Malaysia
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