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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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Wednesday, 16 December 09
COAL MARKETS 2010 CONFERENCE - PRESS RELEASE
COALspot.com (Singapore) Press Release – Back for the 8th year, Coal Markets 2010 will be taking place in Singapore on 28 – 29 Jan ...
Wednesday, 16 December 09
CHINA 2010 COAL TERM PRICES SEEN RISING 8% ON YEAR
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring ba ...
Wednesday, 16 December 09
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL INTERESTS
Emerging coal producer Kangaroo Resources has significantly enhanced its production pipeline in Indonesia after reaching agreement to acquire a coki ...
Wednesday, 16 December 09
UAE'S RAS AL KHAIMAH TO INVEST $5.2B IN EAST KALIMANTAN PROJECT
Shrugging off neighbor Dubai’s debt problems, the smaller United Arab Emirate of Ras Al Khaimah announced on Tuesday that it would increase it ...
Wednesday, 16 December 09
COECLERICI EYES SECOND RUSSIA COAL MINE
* CEO says "seriously considering" mid-small size purchase
* Will use mine to increase exports to Asia
* Says delays at ports will not c ...
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- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Xindia Steels Limited - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
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