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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, 17 December 09
THE 6TH CLEAN ENERGY FORUM - CLEAN COAL 2010
COALspot.com (China) - Press Release: The 6th Clean Energy Forum--Clean Coal 2010 January 27-29, 2010 Renaissance Tianjin Teda Hotel And Conven ...
Thursday, 17 December 09
JFE STEEL INVESTS $555 MILLION IN AUSTRALIA COAL MINE
JFE Steel Corp., Japan’s second- largest producer, will invest 50 billion yen ($555 million) in a coal mine in Queensland, Australia, includin ...
Thursday, 17 December 09
CHINA, INDIA DEMAND MAY BOOST THERMAL COAL PRICE, JPMORGAN SAYS
Demand for thermal coal from China and India may boost prices of the fuel to $80 a metric ton next year amid reduced supplies and lower inventories, ...
Thursday, 17 December 09
RBCT PROBLEMS TO CAUSE STEAM COAL PRICE SPIKE IN Q1
Bugs in the new computer system at South Africa's Richards Bay Coal Terminal and persistent rail problems will make it impossible for exporters to ...
Thursday, 17 December 09
CIL TO IMPORT 4 MILLION TONNES COAL FOR NTPC
The country's largest coal miner Coal India Ltd (CIL) will import 4 million tonnes of coal for state-run power company NTPC.
"Earlier, ther ...
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- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Parliament of New Zealand
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
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