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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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Friday, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
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