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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- PTC India Limited - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Planning Commission, India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
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