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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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Saturday, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
Thursday, 04 February 10
INDIA`S APPETITE FOR COAL EXPECTED TO RISE SHARPLY
Coal powers more than half of India's electricity plants and demand for the commodity is expected to rise sharply as the third-largest Asian econom ...
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- Interocean Group of Companies - India
- Chamber of Mines of South Africa
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- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
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- Singapore Mercantile Exchange
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- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- VISA Power Limited - India
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- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
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- Edison Trading Spa - Italy
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- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
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- Posco Energy - South Korea
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- Wilmar Investment Holdings
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- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
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- Goldman Sachs - Singapore
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- CNBM International Corporation - China
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- Holcim Trading Pte Ltd - Singapore
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- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- The University of Queensland
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- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
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- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
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- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
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- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
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- Bangladesh Power Developement Board
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- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
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- Romanian Commodities Exchange
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- Bayan Resources Tbk. - Indonesia
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- Australian Coal Association
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- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
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- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
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- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
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- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
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- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
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- PetroVietnam Power Coal Import and Supply Company
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- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
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- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
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- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
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- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
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- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
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