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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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Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
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- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
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- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
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- Timah Investasi Mineral - Indoneisa
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
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- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
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- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Planning Commission, India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
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