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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Sunday, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...
Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...
Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...
Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...
Thursday, 04 March 10
BANPU KEEPS JORONG OUTPUT AT 2M TONNES
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is maintaining an output target of 2 million tonnes this year from its Jorong mi ...
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- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
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