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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index ( ...
Tuesday, 26 April 11
NTPC CALLS TENDER FOR 4 MLN TON OF NON-COKING COAL
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, is the largest thermal power gener ...
Monday, 25 April 11
THE FUTURES FOR THREE YEARS WAS AT AROUND PANAMAX/US$ 14,000 PER DAY & SUPRAMAX/US$ 14,000 PER DAY - VISTAAR
COALspot.com - The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 points. ...
Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT
COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with c ...
Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES
Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons ...
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- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- The University of Queensland
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- White Energy Company Limited
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
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