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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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Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
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- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
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