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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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Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
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- Australian Coal Association
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- Renaissance Capital - South Africa
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- Miang Besar Coal Terminal - Indonesia
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- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
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- Krishnapatnam Port Company Ltd. - India
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- New Zealand Coal & Carbon
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- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
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- Eastern Coal Council - USA
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- Merrill Lynch Commodities Europe
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- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
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- Tamil Nadu electricity Board
- Economic Council, Georgia
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- Binh Thuan Hamico - Vietnam
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- Kumho Petrochemical, South Korea
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- CNBM International Corporation - China
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- Kaltim Prima Coal - Indonesia
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- Standard Chartered Bank - UAE
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- London Commodity Brokers - England
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
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- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
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- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
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- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
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- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
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- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
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- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
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