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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, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
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- White Energy Company Limited
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- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
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