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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, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
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- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- The University of Queensland
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
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