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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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Tuesday, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
Monday, 04 October 10
2 BLN TONS OF COAL RESERVES DISCOVERED IN SOUTHERN PAKISTAN - XINHUA / HELLENIC SHIPPING
Xinhua and Hellenic Shipping reporte dhtat, the discovery of at least two billion tons of usable coal reserves has been confirmed in one of the ...
Sunday, 03 October 10
THE BDI WAS JUST INCREASED BY 8 POINTS AND CLOSED AT 2452 POINTS LAST FRIDAY - VISTAAR
COALspot.com: The BDI was almost at same levels and just increased by 8 points and closed at 2452 points , however the cape index was up by al ...
Sunday, 03 October 10
NALCO TO FINALIZE INDONESIA COAL DEAL BY JANUARY - HINDUSTAN TIMES
HindustanTimes reported that, state-owned National Aluminium Company (NALCO) will finalise a deal with a coal source in Indonesia for its $4 billion ...
Sunday, 03 October 10
INDONESIA WILL BECOME A NET IMPORTER OF ENERGY IN 2030 - BPPT
Jakarta Updates reported that,Indonesian Agency for the Assessment and Application of Technology (BPPT) predicted that the energy situation in Indon ...
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- TeaM Sual Corporation - Philippines
- The University of Queensland
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
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