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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, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
Monday, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
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- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Independent Power Producers Association of India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- The University of Queensland
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- Planning Commission, India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
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