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Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
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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Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
Saturday, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
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- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
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- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
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- Australian Coal Association
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- Petron Corporation, Philippines
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- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
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- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
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- Thiess Contractors Indonesia
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- Parliament of New Zealand
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- Parry Sugars Refinery, India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Planning Commission, India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
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