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