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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
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- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- PTC India Limited - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
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