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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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Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
Saturday, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month ...
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- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
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