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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
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- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- The University of Queensland
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
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