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