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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
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- The University of Queensland
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
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- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
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- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
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- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
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- Planning Commission, India
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- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
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- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
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- Georgia Ports Authority, United States
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- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- McConnell Dowell - Australia
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- IEA Clean Coal Centre - UK
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- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
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- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
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- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
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- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
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- Medco Energi Mining Internasional
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- Interocean Group of Companies - India
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- Sojitz Corporation - Japan
- PTC India Limited - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
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- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
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- Trasteel International SA, Italy
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- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
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- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
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- Sindya Power Generating Company Private Ltd
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- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
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- Price Waterhouse Coopers - Russia
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- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
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- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
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