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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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Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
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- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Planning Commission, India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
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