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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
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- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Australian Coal Association
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
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