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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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Saturday, 30 January 10
THE ECI / CHINA (S7) ROUTE SOFTENED BY $ 5,736 AND CLOSED AT $ 27,360 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week probably in anticipation of Chinese New year holidays.
BDI INDEX
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Saturday, 30 January 10
INDONESIA TO CONSTRUCT 93 POWER PLANTS IN 2ND PROJECT
The government has announced its list of 93 power plants to be built under the second 10,000-megawatt (MW) power generation scheme.
"With th ...
Saturday, 30 January 10
COAL FIRMS TO KEEP NATION IN THE BLACK
Some Indonesian coal mining companies on Friday pledged to allocate a greater share of their production this year to meet domestic market obligation ...
Friday, 29 January 10
INDIA STEAM COAL IMPORTS TO DOUBLE, BOOST SOUTH AFRICA
* SAfrica seen shipping 75 pct of its coal to Asia in 2010
* Logistics woes hamper SAfrica exports, India imports
India's steam coal imports ar ...
Thursday, 28 January 10
THE IRON ORE EXPORTS FROM INDIA TO CHINA ARE DOWN AND THE RATES DROPPED
HANDY
The BSI has continued its downward trend confirming the softening of the Atlantic since the previous week and reflecting a correction of the ...
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- Economic Council, Georgia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Australian Coal Association
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
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