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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
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
MEC infra to invest $1b in construction of 130-km transport link
A 130-kilometre railway that will ease the transport of raw materials and finish ...
Tuesday, 15 December 09
KOMIPO HAS ISSUED A NEW TENDER FOR 30000 MT OF 5200 NAR KCAL/KG COAL
COALspot.com (South Korea): South Korean state-owned utility Korea Midland Power (KOMIPO) has issued an new tender for prompt supply of 30000 M ...
Tuesday, 15 December 09
CHINA CUTS IMPORT DUTIES ON COAL, RAISES FOR OTHERS
China will lower import duties on more than 600 products next year, including coal, naphtha and phosphate ore, the Finance Ministry said on Tuesday. ...
Tuesday, 15 December 09
NTPC'S COAL WOES UNLIKELY TO END SOON
State-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal&nb ...
Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
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- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
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