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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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Tuesday, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
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