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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
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- Borneo Indobara - Indonesia
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- Maharashtra Electricity Regulatory Commission - India
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- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
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- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
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- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
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- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
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- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
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- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
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- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
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- CNBM International Corporation - China
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- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
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- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
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- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
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- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
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- Tamil Nadu electricity Board
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- Posco Energy - South Korea
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
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- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
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- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
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- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
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- India Bulls Power Limited - India
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- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
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- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
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- White Energy Company Limited
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- Petron Corporation, Philippines
- Romanian Commodities Exchange
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Independent Power Producers Association of India
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- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
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- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
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