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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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Wednesday, 20 October 10
CANADIAN CHALLENGER ACQUIRES INDONESIAN COAL PROJECT
COALspot.com (Press Release): According to Challenger Deep Resources Corp's website and press release posted on the site, Challenger Deep Res ...
Wednesday, 20 October 10
ADANI THE LARGEST COAL IMPORTER OF INDIA IS NEGOTIATING WITH COAL INDIA LIMITED FOR A SUPPLY AGREEMENT - TOP NEWS
Top News reported that, negotitations are very much on between Adani Enterprises, the biggest coal importer of the country and Coal India Limited, t ...
Wednesday, 20 October 10
UAE FIRM IN INDONESIA RAIL DEAL - GULF NEWS
Gulf News reported that, construction of a 140-kilometre railway in Indonesia, initiated by RAK Minerals and Metals Investments (RMMI) will start ne ...
Wednesday, 20 October 10
CAPESIZES FINDING SUPPORT IN IRON ORE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk ship owners, e ...
Saturday, 16 October 10
BDI WAS MARGINALLY UP BY 2.45 PCT LAST WEEK - VISTAAR SHIPPING
COALspot.com: The BDI seemed to lose the moment compared to last week and was marginally by 2.45 pct and closed at 2,762 points.
Also the Cape in ...
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- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Australian Coal Association
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Minerals Council of Australia
- McConnell Dowell - Australia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
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