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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, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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