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