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