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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
Saturday, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of la ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
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- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
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