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