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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, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
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- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Bhatia International Limited - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
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