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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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Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
Tuesday, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
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- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
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