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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, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
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- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- The University of Queensland
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
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