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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, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
Sunday, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
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- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
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