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