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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, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
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- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
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- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
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- Parliament of New Zealand
- Economic Council, Georgia
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- Heidelberg Cement - Germany
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- Mercator Lines Limited - India
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- Holcim Trading Pte Ltd - Singapore
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
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- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
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