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