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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
Tuesday, 26 July 11
UT'S SALES COULD REACH TO 8000 UNITS BY THE END OF 2011
COALspot.com - Sales of Komatsu heavy equipment in the domestic market in the first half of 2011 rose 59 percent to 4333 units compared to the same ...
Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
COALspot.com - Indonesia's State Electricity Company and other IPPs have burned 19 million tons of coal for first half of this year said,Pamudji Nu ...
Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
COALspot.com - PT AKR Corporindo (AKRA) began producing coal from its mine in Muara Teweh, Central Kalimantan. The company is targeting to pro ...
Sunday, 24 July 11
AN INDIAN PORT SETS A WORLD RECORD FOR CONVENTIONAL COAL DISCHARGE
COALspot.com - Krishnapatnam Port has set a World record for discharging 106,171 tons of steam coal in just 24 hrs using the conventional unloading sy ...
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- Romanian Commodities Exchange
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- London Commodity Brokers - England
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- The University of Queensland
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
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