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