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