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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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Saturday, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
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- Commonwealth Bank - Australia
- Eastern Energy - Thailand
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- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
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- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
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- New Zealand Coal & Carbon
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- Alfred C Toepfer International GmbH - Germany
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- Georgia Ports Authority, United States
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- Bhoruka Overseas - Indonesia
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- Indian Oil Corporation Limited
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- Ministry of Transport, Egypt
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- Chamber of Mines of South Africa
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- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
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- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
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- Posco Energy - South Korea
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- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
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- Goldman Sachs - Singapore
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- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
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- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
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- Karbindo Abesyapradhi - Indoneisa
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- Economic Council, Georgia
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- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
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- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
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- Kaltim Prima Coal - Indonesia
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- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
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- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- White Energy Company Limited
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- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Minerals Council of Australia
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- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
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