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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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Friday, 15 January 10
ADARO INDONESIA STILL TOPS IN INDONESIAN COAL EXPORT RANKING
COALspot.com (Indonesia): PT. Adaro Indonesia, the world first Envirocoal producer and Indonesia's second largest thermal coal producer is top coal ...
Friday, 15 January 10
NTPC TO ADD 6,000 MW EACH YEAR IN 12TH PLAN
Will raise total generation capacity to 75,000 Mw by 2017, up from 30,644 Mw at present.
India's largest power generator NTPC, which will launch ...
Friday, 15 January 10
POSCO SAYS 2010 COKING COAL AGREEMENT MAY BE DELAYED - BLOOMBERG
Posco, South Korea’s biggest steelmaker, said an agreement on coking coal prices for this year may be delayed because major suppliers of the s ...
Friday, 15 January 10
CHINA POWER FIRMS SEEK COAL IMPORTS, SUPPLY SCARCE
China's coal-hungry power plants have turned to imported coal to cope with widespread shortages, but spot supply is scarce, traders said on Thursda ...
Thursday, 14 January 10
INDONESIA POWER REDUCES COAL SUPPLY
PT Indonesia Power will reduce coal supplies from PT Tambang Batu Bara Bukit Asam to its Suralaya Power Plant. "The coal supply for the plant s ...
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- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- White Energy Company Limited
- Planning Commission, India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
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