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