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