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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, 09 January 10
IMPORTED, LOCAL COAL TO BE MIXED IN POWER DRIVE
The government is likely to create a pool price of coal, wherein imported coal and Indian coal could be mixed, making the imported coal becomes more ...
Friday, 08 January 10
SA COAL PRICES TO SPIKE ON RESUMED INDIA BUYING
South African coal prices are set for another price surge to over $100 a ton FOB as Indian and Chinese buyers compete for limited prompt supply, pro ...
Friday, 08 January 10
COLOMBIAN COAL STARTS TO MOVE TO CHINA - TRADERS
* Producer sells cape cargo Colombian coal to China
* Firm bids in freight market
* More shipments expected
Colombian coal is starting to move ...
Thursday, 07 January 10
PT. BUKIT ASAM TO BUILD NEW COAL LOADING TERMINAL AND COAL LOADER
COALspot.com (Indonesia): PT Bukit Asam (Persero) Tbk, Indonesia’s state owned coal mining company, is planning to build an additi ...
Thursday, 07 January 10
RAMKY PLANS COAL MINING IN INDONESIA
Ramky Infrastructure Limited, a Hyderabad-based integrated infrastructure construction and development management company with strategic emphasis on ...
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- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
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