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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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Tuesday, 19 April 11
LONDON COMMODITY BROKERS OPENS JOHANNESBURG OFFICE
COALspot.com - London Commodity Brokers (LCB), a broking house specialising in bulk physical and Over-The-Counter commodities and options (coal ...
Tuesday, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
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- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
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