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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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Wednesday, 20 January 10
NALCO SEEKS CONSULTANT FOR $4 BILLION INDONESIAN SMELTER, PLANT
National Aluminium Co., India’s second-biggest producer of the metal, called for bids for a consultant on its proposed aluminum smelter and co ...
Wednesday, 20 January 10
NTPC PLANS TO SET UP ARM FOR ACQUIRING COAL ASSETS ABROAD
NTPC, the world’s second-largest independent power producer (IPP), plans to set up a new entity for acquiring coal assets abroad to secure fue ...
Wednesday, 20 January 10
CEMENT FIRMS TO BUY POWER PLANT COAL ASH
CEBU, Philippines - Cement companies in Cebu are interested to buy the coal ash that will be produced from the coal-fired power plant in Toledo City ...
Tuesday, 19 January 10
CHINA TO INCREASE THERMAL COAL IMPORTS - WEN
China's Premier Wen Jiabao said on Tuesday that China will appropriately increase imports of thermal coal to ease the country's power shortages.
...
Tuesday, 19 January 10
CESC TO BUY 100,000 MT OF INDONESIAN SUB BITUMINOUS COAL
COALspot.com (India): CESC, India’s one of the largest and oldest private power producer is expected to issue a closed tender any time this we ...
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- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Australian Coal Association
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
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