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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
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- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- The University of Queensland
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Planning Commission, India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
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