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