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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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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Antam Resourcindo - Indonesia
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- VISA Power Limited - India
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- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- White Energy Company Limited
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- International Coal Ventures Pvt Ltd - India
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- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
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- Planning Commission, India
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- Toyota Tsusho Corporation, Japan
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- Directorate General of MIneral and Coal - Indonesia
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- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
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- Deloitte Consulting - India
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- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
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- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
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