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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, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
Monday, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
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- Agrawal Coal Company - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- VISA Power Limited - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- White Energy Company Limited
- The University of Queensland
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
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