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