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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, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
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- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
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