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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, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
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- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Australian Coal Association
- Thai Mozambique Logistica
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
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