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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
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- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- The University of Queensland
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
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