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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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Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
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- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
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- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Australian Coal Association
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Economic Council, Georgia
- The University of Queensland
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Planning Commission, India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
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