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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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Monday, 10 September 12
TNPL, AN INDIAN PAPER MAKER IS SEEKING FOR 300K MT OF IMPORTED NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 6 Shipments about 50,0 ...
Monday, 10 September 12
DRY BULK MARKET SLOWLY BUT SURELY REACHING CRITICAL STATUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The radical consequences of the shifts in dry bulk demand and prices, especially for the most sought after commodity, concerning the industry, i.e. ...
Monday, 10 September 12
ORPHEUS ENERGY SECURES INDONESIAN COAL TRADING LICENSE
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced today that the Indonesian Ministry of Energy and Mineral Resources h ...
Monday, 10 September 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY / HELLENIC SHIPPING
The European Central Bank left its interest rate unchanged at 0.75% focusing on pushing down borrowing costs in troubled economies, Spain and Italy. ...
Sunday, 09 September 12
H213 SUB-BIT FOB INDONESIA COAL SWAPS ARE TRADING HIGHER
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 0.14 percent W-O-W on 7 September 2012, Friday closing but gained ...
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- Karaikal Port Pvt Ltd - India
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- Eastern Coal Council - USA
- Chamber of Mines of South Africa
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- White Energy Company Limited
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- Electricity Authority, New Zealand
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- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
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- Mercator Lines Limited - India
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- McConnell Dowell - Australia
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- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
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- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Economic Council, Georgia
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- Merrill Lynch Commodities Europe
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- Planning Commission, India
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- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
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- Global Green Power PLC Corporation, Philippines
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- PNOC Exploration Corporation - Philippines
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- Power Finance Corporation Ltd., India
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- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
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- Mercuria Energy - Indonesia
- The University of Queensland
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- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
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- Indonesian Coal Mining Association
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- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
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- Minerals Council of Australia
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- Indian Energy Exchange, India
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- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
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- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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