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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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Wednesday, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
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- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Planning Commission, India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
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