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