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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, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
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- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Planning Commission, India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
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