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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
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- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
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