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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, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
Thursday, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
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- The University of Queensland
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- Energy Development Corp, Philippines
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- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
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- Indian Energy Exchange, India
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- Indogreen Group - Indonesia
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- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
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- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
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- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
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- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Planning Commission, India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
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- Medco Energi Mining Internasional
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- Aditya Birla Group - India
- Cement Manufacturers Association - India
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- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
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- Krishnapatnam Port Company Ltd. - India
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- Attock Cement Pakistan Limited
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- Bulk Trading Sa - Switzerland
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- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
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- Coal and Oil Company - UAE
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- Makarim & Taira - Indonesia
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- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
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- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
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- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
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- Parliament of New Zealand
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- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
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