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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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Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Australian Coal Association
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
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