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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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Friday, 04 December 09
JSW ENERGY TO BUY OUT PARENT FIRM'S COAL BLOCK
JSW Energy plans to buy the stake held by JSW Steel in a thermal coal block in Mozambique in an attempt to become an integrated energy company with ...
Thursday, 03 December 09
JAPAN 2010 COAL IMPORTS SEEN FLAT, INDIA'S ROBUST - INDUSTRY
* Japan's demand seen steady in 2010 at 110 mln tonnes
* India's demand seen as robust, at 70 mln tonnes
Reuters reported that, Thermal coal i ...
Thursday, 03 December 09
INDONESIA MAY ALLOW COAL SALES BELOW GOVT PRICE
Reuters reported that, Indonesia is considering giving producers some flexibility to sell coal below the government's monthly benchmark price to co ...
Thursday, 03 December 09
INDONESIA SEEKS TO INCREASE COAL SHIPMENTS TO INDIA, CHINA
Bloomberg reproted that, Indonesia, Asia’s biggest coal exporter, seeks to increase shipments to India and China as the economies improve and ...
Thursday, 03 December 09
COAL INDIA IPO LIKELY TO HIT MARKETS BY NOVEMBER 2010
Soon investors will get to own a slice of India's largest coal mining company. Coal India its initial public offering will hit markets in November ...
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- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- The University of Queensland
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
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