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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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- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Marubeni Corporation - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
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