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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, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
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- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- The University of Queensland
- Planning Commission, India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Australian Coal Association
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
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