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