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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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Monday, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
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