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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, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
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- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
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