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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, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
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