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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, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...
Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...
Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...
Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...
Thursday, 31 December 09
YANDICOOGINA BECOMES FIRST MINE IN AUSTRALIA TO PRODUCE 50 MILLION TONNES A YEAR
COALspot.com Press Release: Rio Tinto's Yandicoogina, Australia's largest-producing iron ore mine, has broken the 50 million tonne mark for annual ...
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- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Central Electricity Authority - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
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