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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, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
Thursday, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
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- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Economic Council, Georgia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
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