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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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Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
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- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
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