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