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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, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
Saturday, 25 August 12
INDONESIAN COAL SWAP REMAINS STABLE AT LOW LEVEL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery gain 0.804 percent W-o-W on Friday (24 August 2012) closing but lost 0. ...
Thursday, 23 August 12
INDONESIA-INDIA, LARGE ECO SUPRA FIXED AT USD 6K FOR DELIVERY SOUTH CHINA - FEARNLEYS AS
Handy
The market continued the same trend as last week, low activity and holidays in some countries.
Rate wise unchanged, with US Gulf/Continent ...
Thursday, 23 August 12
EGCO GROUP EXPANDS TOWARDS INTEGRATED ENERGY BUSINESS WITH INVESTMENT IN INDONESIAS COAL MINE
Electricity Generating Public Company Limited or EGCO Group, the Thailand’s first Independent Power Producer has continually invaded foreign m ...
Thursday, 23 August 12
EGCO GROUP ANNOUNCES 2 BILLION BAHT PROFITS IN Q2/2012
Successfully Establishes Integrated Energy Business and Strengthen Investments in ASEAN
Mr. Sahust Pratuknukul, President of Electri ...
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- The Treasury - Australian Government
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- Gujarat Electricity Regulatory Commission - India
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- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
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- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
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- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Eastern Energy - Thailand
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- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
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- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
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- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
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- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
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- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
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- SMG Consultants - Indonesia
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- Parry Sugars Refinery, India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Parliament of New Zealand
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- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- The University of Queensland
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- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
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- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
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- Indo Tambangraya Megah - Indonesia
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- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
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- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
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- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
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- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
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- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
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- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
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- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
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- The State Trading Corporation of India Ltd
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- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
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- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
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- PTC India Limited - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
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- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
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- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
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- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
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- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
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- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
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