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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, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
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- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- The University of Queensland
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
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