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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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Friday, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
Thursday, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
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- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- MS Steel International - UAE
- Malabar Cements Ltd - India
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- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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- Mercuria Energy - Indonesia
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- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- The University of Queensland
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- White Energy Company Limited
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
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