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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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Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
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- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
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