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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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- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Planning Commission, India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Minerals Council of Australia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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