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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- The University of Queensland
- Australian Coal Association
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
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