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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, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
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- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
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