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