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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, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
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- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
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