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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, 14 January 10
INDIANS RESUME S. AFRICA COAL BUYING AGAINST INDEX - REUTERS
Indian trade buyers have resumed buying of South African prompt coal cargoes after a two-month hiatus but are opting for index-linked pricing, hopin ...
Wednesday, 13 January 10
STEAMING COAL SUPPLY SPOT CONTRACT FOR TAEAN POWER PLANT
COALspot.com (South Korea): Korea Western Power Co., Ltd is looking for total 1.12 million tons of Bituminous Coal for TAEAN Power Plant.
Accord ...
Wednesday, 13 January 10
INDONESIA ISSUES COAL, METAL DECREE
Indonesia has issued a ministerial decree which requires metal and coal miners to set aside a certain amount of their production for domestic needs, ...
Wednesday, 13 January 10
RESTING TIME FOR INDONESIAN COAL LOADING VESSELS
COALspot.com (Indonesia): 11 - 15 vessels are waiting in anchorages of Muara Berau and Tanjung Pemancingan to load total about 700,000 – ...
Wednesday, 13 January 10
SOUTH AFRICA STEAM COAL PRICE FALLS SHARPLY
Reuters reported that South African physical coal prices fell sharply on Tuesday with a March cargo trade at USD 87.5 a tonne FOB Richards Bay and d ...
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- Marubeni Corporation - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
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