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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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Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- White Energy Company Limited
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
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