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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, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
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- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Deloitte Consulting - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
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