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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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Friday, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
Thursday, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
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- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
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- The State Trading Corporation of India Ltd
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- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
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- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- The University of Queensland
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- Coal and Oil Company - UAE
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- South Luzon Thermal Energy Corporation
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- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
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- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
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- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
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- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
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- PTC India Limited - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
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- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
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