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