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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, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
Thursday, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
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- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
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