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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, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
Friday, 29 October 10
CHINA'S COAL DEMAND DRIVES DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is posting marginal, yet steady growth this week, with the Baltic Dry Index rising yesterday to 2784 points, up by 0.2%. Both th ...
Wednesday, 27 October 10
TNPL TO AWARD 240,000 MT COAL SUPPLY CONTRACT TO COAL & OIL
COALspot.com: Tamil Nadu Newsprint Papers Limited, Tamil Nadu state owned Newsprint and Printing & Writing Paper producer has opened a coal purc ...
Wednesday, 27 October 10
CHINA AIDS RUSSIA IN DEVELOPING COAL RESOURCES - PEOPLE'S DAILY
People's Daily reported that, Russia will use 6 billion U.S. dollars in loans provided by China to develop coal resources in Sakhalin Island, Elege ...
Wednesday, 27 October 10
MAIDEN COAL SHIPMENTS TO NOBLE RESOURCES - PAN ASIA AUSTRALIA
Press Release :
First Coal Shipments made from Nadvara Coal Project, East Kalimantan
51,616 tonnes delivered from October production &ndas ...
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- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Australian Coal Association
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
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