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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, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
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- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
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