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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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Thursday, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Parliament of New Zealand
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
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