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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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Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
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- Uttam Galva Steels Limited - India
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- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
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- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
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