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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, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
* Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
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- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
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