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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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Tuesday, 18 December 12
NEWCASTLE PORT IN AUSTRALIA SHIPPED 20.19 PERCENT MORE COAL W/E 17 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 3,269,640 MT of thermal and coking coal for week ended 0700 hours 17 December 2012, Newc ...
Monday, 17 December 12
SHIP PRICES TO BOTTOM OUT IN 2013 SAYS GEORGE D. GOURDOMICHALIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship values especially in older tonnage, or even modern vessels with poor quality are expected to fall further during 2013, with the market as a who ...
Monday, 17 December 12
SYNERGISING WITH PIONEERS TO DEVELOP TOMORROW'S LATIN AMERICAN RAILWAYS
Press Release: Brazil being one of the largest country in South America has one of the most dynamic rail markets in the world. Rail transport in Bra ...
Sunday, 16 December 12
FREIGHT TREND SOFTENED THIS WEEK - VISTAAR
COALspot.com - The freight market further softened this week and closed at 784 points (down by 18.84 pct). The cape index had the biggest fall ...
Friday, 14 December 12
GMR GROUP OF INDIA TO IMPORT 100K MT OF 4800 GAR COAL
COALspot.com: GMR Group of India to invite bids for 100,000 Metric Tons of imported non coking coal to be delivered during January and February 2013 ...
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- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- The University of Queensland
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- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
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- Mjunction Services Limited - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
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- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
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- VISA Power Limited - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
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- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
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- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
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- IEA Clean Coal Centre - UK
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- Toyota Tsusho Corporation, Japan
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- Sindya Power Generating Company Private Ltd
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- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
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- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Australian Coal Association
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
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- Africa Commodities Group - South Africa
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- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
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- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
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- Meralco Power Generation, Philippines
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- Sakthi Sugars Limited - India
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- SMG Consultants - Indonesia
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- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
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- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
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- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
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- Romanian Commodities Exchange
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
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- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
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- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
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- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
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- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
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- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
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