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