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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
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- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
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