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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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Wednesday, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaiku ...
Tuesday, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
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- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
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- AsiaOL BioFuels Corp., Philippines
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- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
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- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
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- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
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- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Australian Coal Association
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
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