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