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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 November 12
SHIP OWNERS TURN TO SECOND HAND VESSELS, WHICH COME AT ATTRACTIVE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The attractiveness of modern second hand vessels, which are often priced aggressively can't be ignored by cash-rich ship owners, who are taking adv ...
Thursday, 08 November 12
LARGE ECO SUPRA : INDO - INDIA NOW FIXED AT USD 11K FOR DELIVERY SINGAPORE - FEARNLEYS
Handy
The Atlantic market continues to remain weak with rates further softening on FH. Rates from USG to Feast were around USD 14k and Black Sea to ...
Thursday, 08 November 12
DRY BULK MARKET RETREATS AGAIN ON HIGHER SHIP SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In further evidence of a latest round of dry bulk shipping misery, the industry's benchmark fell for the 11th straight session yesterday, as the in ...
Thursday, 08 November 12
JOIN CHINA STEAM COAL SUPPLY - DEMAND FORUM
Join China Steam Coal Supply-Demand Forum & Visit Shenhua Yudean Zhuhai Port Coal Terminal
Press Release - Organized by CBI BIZ and suppo ...
Wednesday, 07 November 12
NEWBUILDING ORDERING ACTIVITY ON A STEADY PACE PRIOR TO THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders, which to many involved in the shipping industry, are the main reason of today's low freight rates and subsequent financial prob ...
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- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
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