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