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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, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
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- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
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