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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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Monday, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
Saturday, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
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- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Planning Commission, India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- The University of Queensland
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
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