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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, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
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- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- PTC India Limited - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Central Java Power - Indonesia
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