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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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Thursday, 24 March 11
INDIA'S CHETTINAD INTERNATIONAL COAL TERMINAL'S PERMISSIBLE DRAFT HAS INCREASED TO 13.5 M
COALspot.com - Chettinad International Coal Terminal in Ennore port has the berth with draft 13.5 Meters now, according to E-Mail statement received ...
Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
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- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
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