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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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Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
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- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Posco Energy - South Korea
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
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