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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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Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
Wednesday, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
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- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
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- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
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- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
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- Ministry of Transport, Egypt
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- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
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- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
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- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
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- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
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- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- MS Steel International - UAE
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
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- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Planning Commission, India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Parliament of New Zealand
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