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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
Saturday, 14 November 09
ASIA'S POWER SECTOR IS INVESTING IN COALMINES TO SECURE SUPPLIES
COALspot.com (Press Release): Asia Coal Power conference in Jakarta pinpoints growing power demand in Asia & Power sector investments in Indones ...
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- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- White Energy Company Limited
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
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