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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, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
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- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
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- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
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- Directorate Of Revenue Intelligence - India
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- White Energy Company Limited
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- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
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- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
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- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
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- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Star Paper Mills Limited - India
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- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
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- Romanian Commodities Exchange
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
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- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
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