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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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Thursday, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
Thursday, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
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- PetroVietnam Power Coal Import and Supply Company
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- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
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- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
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- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
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- Indonesian Coal Mining Association
- London Commodity Brokers - England
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- Petrochimia International Co. Ltd.- Taiwan
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- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
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- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
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- Planning Commission, India
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- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
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- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
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