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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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Saturday, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
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- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
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