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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
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- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Australian Coal Association
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
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