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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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Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
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