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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, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
Thursday, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
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- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
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