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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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Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
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- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- White Energy Company Limited
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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