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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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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- The University of Queensland
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
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