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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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Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
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- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Deloitte Consulting - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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