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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, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
Thursday, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
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- CIMB Investment Bank - Malaysia
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- Rio Tinto Coal - Australia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
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- Alfred C Toepfer International GmbH - Germany
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- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
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- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
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- Jorong Barutama Greston.PT - Indonesia
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- Rashtriya Ispat Nigam Limited - India
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- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
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- Bayan Resources Tbk. - Indonesia
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- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
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- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
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- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
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- Coal and Oil Company - UAE
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- Bukit Asam (Persero) Tbk - Indonesia
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- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
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- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
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- Siam City Cement - Thailand
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- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
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- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- London Commodity Brokers - England
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- White Energy Company Limited
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- SMC Global Power, Philippines
- Parliament of New Zealand
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