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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, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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- Coal and Oil Company - UAE
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- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
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- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
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- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
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- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
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- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
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- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Australian Coal Association
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
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