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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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Thursday, 26 April 12
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
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- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Mercator Lines Limited - India
- MS Steel International - UAE
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
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