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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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- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
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