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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, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
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- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- The University of Queensland
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
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