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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, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
Thursday, 19 August 10
INDONESIA EXPORTED 5.93 MLN TON OF COAL TO CHINA AND 3.52 MLN TONS TO INDIA IN JULY
COALspot.com: Indonesia shipped 3.52 million tones of thermal coal to India in July, fell 25.39 percent compared to June's exports of 4.71 million ...
Thursday, 19 August 10
WBPDCL INDIA LAUNCHES SPOT COAL TENDER
COALspot.com: The West Bengal Power Development Corporation Limited (WBPDCL ), A Govt. of West Bengal Enterprise, has launched spot contract tender ...
Thursday, 19 August 10
PANAMAX BACKED BY A STRONGER SHORT PERIOD MARKET AND SUPPORTED BY SOME FRESH REQUIREMENTS - FEARNBULK
Handy
The events of this week have confirmed our assessment of last week i.e. activity gradually picked up in the Atlantic with more enquiry seen ...
Thursday, 19 August 10
CSC TO SHIP COAL FOR NOROCHCHOLAI POWER PLANT
Daily Mirror reported that, coal for the Norochcholai Power Plant will be shipped to the country by the Ceylon Shipping Corporation (CSC) officials ...
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- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- White Energy Company Limited
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Aditya Birla Group - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
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