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