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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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Thursday, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
Thursday, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, ...
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- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
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- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Energy Development Corp, Philippines
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