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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, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
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- Deloitte Consulting - India
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- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
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- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Parliament of New Zealand
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Marubeni Corporation - India
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- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
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- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Romanian Commodities Exchange
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- Parry Sugars Refinery, India
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- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
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