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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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Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
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- Wilmar Investment Holdings
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Planning Commission, India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
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