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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, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
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- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
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- Straits Asia Resources Limited - Singapore
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- Economic Council, Georgia
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- Orica Australia Pty. Ltd.
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- Uttam Galva Steels Limited - India
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- Australian Coal Association
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- Ministry of Finance - Indonesia
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- VISA Power Limited - India
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- Xindia Steels Limited - India
- Trasteel International SA, Italy
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- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
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- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
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- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Ceylon Electricity Board - Sri Lanka
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- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
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- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
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- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
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- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
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- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
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- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
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- PTC India Limited - India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
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- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
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