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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
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- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- The University of Queensland
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