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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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Friday, 26 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
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- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
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