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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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Tuesday, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Heidelberg Cement - Germany
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- Economic Council, Georgia
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- White Energy Company Limited
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- San Jose City I Power Corp, Philippines
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- Eastern Coal Council - USA
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- Power Finance Corporation Ltd., India
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- Georgia Ports Authority, United States
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- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
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- Ministry of Finance - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
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- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Singapore Mercantile Exchange
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- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
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- Sinarmas Energy and Mining - Indonesia
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- Ministry of Transport, Egypt
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- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Indian Oil Corporation Limited
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- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
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- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
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- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
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- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
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