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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, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
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- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
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