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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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Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
Friday, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
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- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- The University of Queensland
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
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