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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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Tuesday, 22 December 09
NEWCASTLE COAL SHIP QUEUE LONGEST IN TWO YEARS AS EXPORTS SLOW
Bloomberg reported that, the queue of coal ships waiting at Australia’s Newcastle port, the world’s biggest export harbor for the fuel, ...
Monday, 21 December 09
INDONESIA HAS EXPORTED AROUND 195.303 MILLION TONS OF COAL TILL END OF NOVEMBER 2009
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in November 2009, by taking 28.69% of total exported quan ...
Monday, 21 December 09
RUSSIAN COAL MINER SUEK EYES '10 LONDON IPO
* Company valued at around $8-$9 bln - banking source
* IPO could take place in H1 - source
* May list 25 pct of share capital - report
Reuters ...
Monday, 21 December 09
IGCC OUTLOOK CHINA 2010 TO BE HELD IN APRIL 2010 IN SHANGHAI
COALspot.com (China): Press Release - Aiming at unveiling the growth area of IGCC polygeneration, IGCC Outlook China 2010 is planned to be hel ...
Sunday, 20 December 09
GLOBAL COAL MAJORS MAKE THEIR PRESENTATIONS
Major energy companies from four countries, including the U.S., Indonesia and South Africa, have completed detailed presentations before a committee ...
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- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
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