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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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Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
Thursday, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
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- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
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- Parliament of New Zealand
- Australian Coal Association
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- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- The University of Queensland
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- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
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